HP cuts 24,600 jobs, but may hire in India
Hewlett-Packard Co.(HP) said it will cut 24,600 jobs as part of its plan to integrate tech services giant Electronic Data Systems Corp. (EDS), providing the first details of how extensive its restructuring of the combined company will be. The cuts are intended to “streamline the combined company’s services” businesses, HP said in a statement, and they amount to about t7.5% of the total combined workforce. Source: mint

Nandy Adds to senior Wipro executive exits
When Sudip Nandy, Wipro Ltd’s president for telecom, media and technology, quit on Monday, he became the latest among a group of senior executives, most reporting to chairman Azim H. Premji who have left the company since April. Source: mint

Start-ups gearing up for smart HR policies
 At a time when IT companies have cut down  or frozen on fresh hiring, recruitment firms are finding new opportunity in emerging businesses, which are busily firming up plans to put proper talent retention policies in place. “The sector has been quite adaptive to market realities and is certainly adopting modern HR practices,” says team lease Services vice-president Rajesh AR. And though not as sophisticated or as systems driven as their larger counterparts, emerging companies are recognizing the need to have HR policies in place and many of these are focused on retaining best performers, he adds.
Source: Economic Times

Past perfect, future tense for IIM-A grads after St fall
The creamy layer is clearly jittery at IIM-A. Officials at IIM-A are now contemplating counseling the students about the possible impact of Monday’s crisis that shook the Wall Street and impacted India in a big way. This is particularly important because three of the 10 students of the 2009 batch who went to Lehman Brothers for summer internships have already been offered pre-placement offers (PPO’s) said the institute sources.
Source: Economic Times

Ratan Tata joins Nanobiosym board
Tata group chairman Ratan Tata has joined the global advisory board of Nanobiosym. “Nanotechnology has the potential to revolutionise the way we tackle key issues, and Nanobiosym is working at the forefront of this revolution,” Mr. Tata said
Source: Economic Times

MAIT appoints Raman as president
MAIT on Tuesday appointed TVS-E Service Tec president and CEO S S Raman as the president and HP India (Personal System Group) president Ravi Swaminathan as the VP for 2008-2209. Source: Economic Times

TCS & Wipro recast hiring plans
As the heat of global slowdown spreads several player in the IT and ITeS sector have modified recruitment policies, keeping them in sync with the changing market conditions and their pockets. The likes of TCS, Wipro and Keane are either going slow on recruitment or are hiring more number of trained hands. Source: Economic Times

For more industry news, goto news archive.