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Archive for the ‘OUTSOURCED WORK FORCES’ Category

MICROSOFT NEEDS MORE COST-CUTTING: ANALYST (USA)

Posted by Gilmour Poincaree on January 24, 2009

Friday, January 23, 2009, 9:36am PST

Puget Sound Business Journal

PUBLISHED BY ‘THE PUGET SOUND BUSINESS JOURNAL’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE PUGET SOUND BUSINESS JOURNAL’ (USA)

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Posted in COMMERCE, DIGITAL INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FOREIGN WORK FORCE - LEGAL, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, INTERNET INDUSTRIES, NATIONAL WORK FORCES, OUTSOURCED WORK FORCES, RESTRUCTURING OF PRIVATE COMPANIES, SOFTWARE INDUSTRIES, THE FLOW OF INVESTMENTS, THE WORK MARKET, UNEMPLOYMENT, USA | Leave a Comment »

GOOGLE CUTS WORKERS BUT MURKY ON DETAILS

Posted by Gilmour Poincaree on January 8, 2009

12:01PM Thursday Jan 08, 2009

by Michael Liedtke

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

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PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, COMMUNICATION INDUSTRIES, DIGITAL INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENTERTAINMENT INDUSTRIES, ENTERTAINMENT INDUSTRY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN WORK FORCE - LEGAL, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, INTERNET INDUSTRIES, NATIONAL WORK FORCES, OUTSOURCED WORK FORCES, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE WORK MARKET, THE WORKERS, UNEMPLOYMENT, USA | Leave a Comment »

QATAR RULES IN FAVOR OF 7 OFWS IN LABOR CASE (Qatar/Philippines)

Posted by Gilmour Poincaree on January 3, 2009

01/03/2009

The Daily Tribune

PUBLISHED BY ‘THE DAILY TRIBUNE’ (Philippines)

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PUBLISHED BY ‘THE DAILY TRIBUNE’ (Philippines)

Posted in ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, HUMAN RIGHTS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, JUDICIARY SYSTEMS, OUTSOURCED WORK FORCES, PHILIPPINES, QATAR, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE WORK MARKET, THE WORKING ENVIRONMENT | Leave a Comment »

SWEET VICTORY FOR PINOY WELDERS (Philippines)

Posted by Gilmour Poincaree on January 3, 2009

January 03, 2009 06:06 PM Saturday

by Cristina Lee-Pisco

PUBLISHED BY ‘THE JOURNAL ONLINE’ (Philippines)

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PUBLISHED BY ‘THE JOURNAL ONLINE’ (Philippines)

Posted in ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FOREIGN POLICIES, HUMAN RIGHTS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, JUDICIARY SYSTEMS, OUTSOURCED WORK FORCES, PHILIPPINES, QATAR, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE WORK MARKET, THE WORKERS, THE WORKING ENVIRONMENT | Leave a Comment »

PHILIPS SHEDS TELEVISIONS FOR HIGH-END LIGHTS, HEALTH CARE

Posted by Gilmour Poincaree on December 27, 2008

December 25, 2008 6:26 p.m. PT

by Eric A. Taub – The New York Times

PUBLISHED BY ‘THE SEATTLE POST-INTELLIGENCER’ (USA)

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PUBLISHED BY ‘THE SEATTLE POST-INTELLIGENCER’ (USA)

Posted in COMMERCE, COMMODITIES MARKET, COMMUNICATION INDUSTRIES, DIGITAL INDUSTRIES, DOLLAR (USA), ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ELECTRIC / ELECTRONIC INDUSTRIES, ENERGY, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FOREIGN WORK FORCE - LEGAL, HEALTH CARE, HEALTH CARE - USA, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, INTERNATIONAL, NATIONAL WORK FORCES, NETHERLANDS, OUTSOURCED WORK FORCES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE WORK MARKET, THE WORKERS, USA | Leave a Comment »

BILLIONS MORE WIPED OFF CITIGROUP SHARES – Market jumps on hopes of new treasury secretary – Boost fails to help US banking giant

Posted by Gilmour Poincaree on November 22, 2008

Saturday November 22 2008 00.01 GMT

by James Doran, in New York

The Guardian

Wall Street ended a volatile week with renewed confidence last night, after reports that Barack Obama has chosen Timothy Geithner, the head of the New York Federal Reserve, as his treasury secretary.

As speculation mounted over Geithner’s nomination, shares rebounded. The Dow Jones industrial average recorded a 494-point gain on the day as stocks surged by 6.5% to close above the psychologically important 8,000 level at 8046.42. It was still 5% down for the week, however, as worries persist about the global economic slowdown.

Geithner, 47, has always been a favourite to take the top job and his appointment is expected to be announced by the Obama camp in the next 24 hours.

Banking stocks still suffered, though, despite the market’s abrupt recovery.

Citigroup, once the world’s biggest banking group, saw another $5bn (£3.35bn)wiped off its value after an emergency board meeting failed to come up with any initiative to stem the unprecedented flight of investors. Shares fell to $3 after the bank’s chief executive, Vikram Pandit, ruled out selling its retail stockbroking arm, Smith Barney, in an attempt to stop the rout.

Shares in Citigroup have lost more than half their value this week since Pandit announced plans on Monday to sack 52,000 workers. Measures by the bank and its biggest investors to reverse the share price decline, from a level of $54 two years ago, have all failed.

However, a Citigroup source within Pandit’s inner circle, defended the bank last night, saying the sinking share price “has nothing to do with our viability”. The source added that it was of no consequence if the price fell to zero.

“This is all about market perception,” she said, claiming that the market was wrong. “We are the same as everybody else. Our stock price is declining but so is everybody else’s.”

The executive added that talk of a government bail-out or nationalisation was misguided. “This is not the same as Lehman Brothers,” she said, referring to the Wall Street bank that collapsed in September. “Citi has no liquidity issues” and so did not need government help.

Analysts are concerned that Citigroup has more than $100bn of toxic, debt-related assets on its books and may need to raise as much again in order to keep its balance sheet in check.

But the Citi executive said this was another false perception in the market. “We are very comfortable,” she said. “We have reached a very different conclusion to the market. We have no liquidity problems at all.”

The board is nevertheless considering all its options. Pandit called an emergency meeting with staff at 8am in New York yesterday before a full board meeting to confront the collapsing share price. The board wants Citi to consider either a break-up, a merger with another company, or a fire sale of assets and divisions. Pandit is believed to have told his closest lieutenants “everything is on the table”.

It is understood that teams of executives within Citigroup had begun drawing up plans for the emergency sale of the Smith Barney retail brokerage, the global credit card division, and the transaction services unit. Shares rose briefly as rumours of the emergency plans leaked into the market. But within minutes it emerged that Pandit told staff he was opposed to a break-up of the company and had no plan to sell Smith Barney.

The conflicting reports added to the confusion and fear already stalking the market and sparked a further steep sell-off in Citigroup shares.

Striking a deal to sell all of Citigroup would be fraught with problems. The banking group is huge, spanning the globe with more than 350,000 employees. Morgan Stanley, the former Wall Street brokerage that recently became a commercial bank, held preliminary merger talks with Citi in September when its own share price was under pressure. Pandit spent much of his career at Morgan and is close to John Mack, the Morgan chief executive. Sources said talks have not been rekindled. A source close to Mack said the bank had no interest in doing a deal with Citi.

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PUBLISHED BY ‘THE GUARDIAN’ (UK)

Posted in BANKING SYSTEM - USA, CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL MARKETS, OUTSOURCED WORK FORCES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS, USA | Leave a Comment »

BPO PLAYERS MINIMIZE ‘CRISIS’ IMPACT – A significant majority of Business Process Outsourcing (BPO) industry players believe the global financial crisis will have a positive or neutral effect on their operations in the Philippines.

Posted by Gilmour Poincaree on November 2, 2008

Sunday, November 2, 2008

by James A. Loyola

A survey of executives of companies in the BPO industry and suppliers to the industry showed though that almost a third of respondents said the crisis will have a negative impact on their operations and 44 percent said the crisis will result in a decrease in demand for their services.

Results indicated that the impact of the global financial crisis on the Philippine operations of BPO services provides will be mixed, but mostly positive.

A majority of respondents, 79 percent, representing a broad spectrum of BPO sectors said the global financial crisis will have a positive or neutral effect on their Philippine operations.

Forty-one percent of respondents said the global financial crisis will cause demand for their services to increase, and 38 percent said the global financial crisis will have a positive impact on their operations in the Philippines. Thirty percent said impact on their Philippine operations will be neutral.

“While the global financial crisis provides both opportunities and challenges for the Philippine BPO industry, industry players are indicating that overall, the outlook remains positive, and at least in some sectors, will become more so,” said Business Processing Association of the Philippines (BPA/P) CEO Oscar Sañez.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘MANILA BULLETIN ON LINE’ (Philippines)

Posted in ASIA, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDUSTRIES, INTERNATIONAL, OUTSOURCED WORK FORCES, OUTSOURCING INDUSTRIES, PHILIPPINES, THE WORKERS | Leave a Comment »