MNCs Including HP and Nokia Announce 71K Job Cuts Globally

A whopping 71,000 job cuts have been announced worldwide by more than a dozen multinationals, including HP and Nokia, so far this year as they attempt to save costs amid uncertain economic environment.
The cuts have been announced by companies from various sectors, during the first six months of 2012, and those from the technology services space are the worst hit.
Companies to have confirmed massive job cuts, running into thousands of employees each, include tech giant Hewlett- Packard (HP), mobile handset maker Nokia, consumer electronic giant Sony Corp, internet company Yahoo, food and beverage maker PepsiCo, financial services entity Royal Bank of Scotland and airline firm Lufthansa.
Camera maker Olympus, Swedish ball bearing giant SKF AB, drug manufacturer Novartis AG, the Anglo-Dutch firm Unilever, computer mouse maker Logitech International, LM Wind Power and mobile network operator Verizon Wireless have also announced substantial job cuts.
Together, these companies have announced job cuts totaling 71,000 in their operations across the world. Incidentally, more than half of the job cuts have been announced in May alone.
Individually, the Anglo-Dutch food and cosmetics giant Unilever last week said it plans to cut 500 jobs in Britain as part of a restructuring programme. In addition, it would also see some posts outsourced to India.
In the same week, Nokia said it plans to reduce its workforce by about 10,000 people worldwide by the end of 2013 as the struggling company fights strong competition. The measure is aimed at additional cost savings of 1.6 billion euros (about USD 2 billion) by the end of next year.
SKF also said it would slash around 400 jobs in Germany as part of cost cutting measures due to weakening business sentiment in India, China and European countries.
Announcing the job cuts earlier this month, Logitech International said it would eliminate approximately 450 positions, or 13 per cent of its worldwide workforce in a bid to save USD 80 million in annual operating costs.
Olympus Corp, which employs over 40,000 employees globally, this month said it would axe 2,700 jobs worldwide, or seven per cent of its workforce, in the next two years. The move is part of the company's effort to boost its profitability.
In May, HP said it would layoff about 27,000 employees globally over the next two years as part of restructuring move to stem up declining profits and revenues.
The tech firm said workforce reduction would generate an annual savings in the range of USD 3-3.5 billion by the end of the 2014 fiscal year.

I am still in the Prez Race: Sangma

Undaunted by the threat of disciplinary action by his own party, the NCP, P A Sangma today insisted on contesting the Presidential poll for which he has sought the support of NDA as well as Trinamool Congress, both of whom have given him no commitment.



"I am still in the race. I have made an appeal to all political parties to support my candidature," Sangma said, adding he has spoken to many of the NDA leaders to support him.

Sangma said he has also contacted Mamata Banerjee soliciting her backing for his candidature. "I had spoken to Mamata Bannerjee day before yesterday, late in the evening. I have appealed to her also to support my candidature."

He added that Bannerjee was insistent on the name of former President A P J Abdul Kalam. "I said (to Mamata) that Dr Kalam has opted out of the race therefore you should support me," Sangma said.

In Kolkata, Trinamool MP Kunal Ghose said Banerjee had told Sangma to support Kalam in the event of the former President contesting the election and withdraw from the race.

Sharad Pawar, chief of NCP which has fully backed the candidature of UPA nominee Pranab Mukherjee, has asked Sangma to opt out of the Presidential poll and even threatened action against him if he persisted.

On whether he is defying his own party by contesting for the top most post, he said, "I have maintained right from the beginning that I am a candidate of Tribal Forum of India which has nothing to with any political party."

As a candidate of the Tribal Forum I have gone across to all the political parties, appealing for support, Sangma said, adding that, "It is very clear that I am not a NCP candidate."

On whether he is prepared for any action taken by his party against him, he said, "Sharad Pawar (NCP Chief) is saying that he will appeal to me to withdraw. I can tell you that I will appeal to him to support me."

On the NDA meeting today, which turned out to be inconclusive, he said, "There have been little differences which is quite natural in a democracy. They (NDA members) are still to sort out few things. They have to consult few Chief Minister."

I Always Respected Kalam: Karunanidhi

DMK chief M Karunanidhi, who had said naming of A P J Abdul Kalam in the Presidential race has led to chaos, on Sunday maintained that he always respected the former President.

“Some people are trying to divert the issue. Abdul Kalam himself knows how much I value and respect him and the high post he held. I would always respect him,” Karunanidhi said.

The DMK patriarch had on Friday said, “Kalam in Tamil also means chaos. Anyhow, chaos has broken out in the Presidential election.”

Announcing UPA's Presidential candidate Pranab Mukherjee's visit to Chennai on June 30, he said, “For the first time, Pranab Mukherjee would come to Chennai on June 30 to meet the electors. He would seek votes from MPs and MLAs. Arrangements have been made for a reception.”

Chances of Mukherjee becoming the President are “bright”, he said.

He declined to comment on senior BJP leader L K Advani's observation that there was confusion in the Congress over the Presidential polls.

Mamata Thanks to Public for "overwhelming" Response on Social Network

Appreciating an 'overwhelming' response to her Facebook appeal for supporting former President APJ Abdul Kalam in the Presidential election, Mamata Banerjee today in another post expressed her thanks.

"Thank you all for your overwhelming response, in such a short span of time, for this great cause of nation...I am sure this united voice will take the issue to the next level", the West Bengal chief minister wrote.

The newest high-value member of the popular social networking website, regretted the erosion of ethics and principles in politics and said public interest had been compromised through the use of money, power and scams.

"It is most unfortunate that politics in our great nation has become murky and values, public interest have been compromised through the use of money, power and scams", she wrote in her official Facebook page.

"Ethical and principled politics has eroded today -- this decay has to be reversed at all costs to return to the great traditions of this country".

She also appealed all Indian citizens to raise their voice and be counted to fight against corruption, back-room deal making, Machiavellian manipulations and machinations.

"We should raise our voices and stand by principles - conviction, values and integrity", Banerjee said.

Although known to be tech-savvy, Banerjee had so far stayed away from personally participating in social networking websites despite having courted controversies for being 'intolerant' of unsavoury comments and cartoons about her.

A source close to her said that she reads tweets regularly and is quite conversant with the online medium.

"This is an age of 360 degree communication where we want to use all channels of communication to spread our party's messages. We not only tolerate the social media, we also cherish it", a party spokesperson said.

Ahead of last year's Assembly elections, Trinamool had roped in Hotmail co-founder and IT wizard Sabeer Bhatia to help the party campaign better in the cyber world.

Since then the party has an official Facebook account and a regularly updated website. Trinamool's cyber team head and MP Derek O'Brien, who has more than 78,000 followers on Twitter often uses his tweet to clarify the party's stand on various issues.

Early Assembly polls will not worry Karnataka BJP: CM

Maintaining that early elections to the assembly would not "worry" the state BJP, Karnataka Chief Minister D V Sadananda Gowda today said it was left to the Election Commission to take a decision on the matter.

"Early election to the state Assembly will not worry the state BJP if the Election Commission declares polls along with other states," he told reporters on the sidelines of a function here.

It was left to the Election Commission to decide on declaring early polls, Gowda said.

Replying to a query, Gowda said a final decision would be taken on cabinet expansion after consulting BJP's central leadership.

"It should have been done by now, but couldn't materialise in the event of new hurdles cropping up time and again. Final decision on the issue will be taken after deliberating with central leadership," he said.

Gowda also said he was visiting New Delhi to participate in deliberations on choosing NDA's Presidential candidate.

On delayed arrival of monsoon in the state, Gowda said he expected good rainfall that would make farmers happy.

Arvind Kejriwal targets Pranab Mukherjee

Team Anna today targeted Congress Presidential candidate Pranab Mukherjee and demanded an independent inquiry into allegations they had made against him despite the fact that the Government has trashed the charges against him and 14 other ministers made by it last month.

Arvind Kejriwal told reporters that Mukherjee was a candidate for the highest constitutional post and the person adorning the top offie must be "above board".

Another member Manish Sisodia also wanted the allegations to be investigated.

Team Anna had made allegations against Prime Minister Manmohan Singh, Mukherjee and 13 others last month and demanded setting up of a special investigation team which was rejected by the Government.

The Prime Minister had last month strongly rebutted Team Anna's allegations and offered to quit public life and face any punishment if charges on coal block allotments made by the activists were proved.

Mamata turns to Facebook, seeks support for Kalam

KOLKATA, Taking up the campaign for APJ Abdul Kalam online, Trinamool Congress chief Mamata Banerjee on Saturday said her choice of the Presidential candidate was the choice of millions of Indians.

Debuting on social networking site Facebook, she wrote in her first post, "I gave voice to what millions of Indians want to see in a President."

Refusing to budge from her stand, she said, "My party is a small party. We are not a big party with none of the resources others possess. We are led by truth and conviction. All through my life I have stood by my principles. I stand by the position I have taken".

Stating that the will of the people is supreme in a democracy, Banerjee requested fellow citizens to petition their public representatives to stand up, support and vote for Kalam.

"Let your voice be heard. I will bow to the will of the people," she said.

Describing the 'missile man' as a proud and distinguished son of India who continues to inspire all Indians, the chief minister said Kalam remains above narrow politics.

"He is a seeker of truth, a fount of knowledge and an impartial voice of reason and sanity, who is above narrow politics. He is the kind of man all our citizens aspire to make President," Banerjee said.

The TMC chief had joined hands with SP chief Mulayam Singh Yadav to propose the name of Kalam. However, the SP later broke away and pledged support to Pranab Mukherjee, leaving the West Bengal Chief Minister totally isolated.