[benbsb29]

Originally Posted by sajo

I read in the papers today that TCS is firing 1300 employees apart from revising its bus fares to 2500 bucks per month.

I heard about this as well. 2500 bucks for transport is madness. What are they trying to encourage; that people get their own transport?!

I have a feeling Infy may also follow suit, if not already done.

[Mpower]

Originally Posted by sajo

apart from revising its bus fares to 2500 bucks per month.

How much was it before? Is it based on kms.

[Jaggu]

No it should be a fixed monthly thingie, 2500 would have the actual cost incurred, rather the price negotiated for the transport facility, earlier it would have been subsidized 50-50% or similar and now they are transferring the actuals.

I think its a very ok move, in a city like bangalore unless you are in 5km distance and have your own bike, you will land up spending more and carry more risk of traveling on own.

No am not associated with TCS in anyway lol.

[ravibhat]

This is worst hit recession. Next 6 months very crucial.

During recession I hope people will learn lesson and start spending less even once GOOD times start. Especially in Software and related industry paycheck is really huge so its time to trim it. Many People who worked in this industry have exhibited bad attitudes and did lot of damage in public. Time is paying for it. I feel for such people recession is best warning BELL.

On the other side one can lay solid plans for their future and prepare themself to lead safe life as I saw most of people working in IT sector hardly saved anything.

My sincere request save at least 50% of what you earn (for people who draw more than 20,000/- per month as salary) from the day 1 you start your first job. Once you get married need to spend more and its time to enjoy your life although it does not mean you should not enjoy your life before marriage.

Saved money in GOOD times would help in BAD times. Think Dr. Vijay Mallya portfolio (cash or asset) he built in the past helped him to face huge huge losses in airline/IPL etc.. business. as long as we manage the bad times good time will enter soon

So best first step would be do cost cutting (I can already see people are doing ) everywhere but don't do over cost cutting which might hurt you and family. Lets face bad times with guts and good planning. I wish soon in 1 year world will come out from bad TIMES.

Ravi.

[finneyp]

Originally Posted by Mpower

How much was it before? Is it based on kms.

It was Rs.800 earlier, which was subsidised, now they will be charging on actuals which is around Rs.2500.

TCS is anyway notorious for its anti-employee policies!

[sam_boy]

Originally Posted by sajo

I read in the papers today that TCS is firing 1300 employees apart from revising its bus fares to 2500 bucks per month. By the way things are going, I am of the opinion that my co might follow suit. So, if that happens, I wonder if it might be better to invest in a cheap(ish) car instead ?

PS : Wrong sort of question to ask in a car forum ? :P

I heard that they have already fired around 1000 people .. People with the rating 2 out of 5 for consecutive appraisals are the sufferers .. I pity man .. 2 in TCS means you are meeting all the expectation levels ...

Hope this time passes soon ...

[penpavan]

Originally Posted by ravibhat

Saved money in GOOD times would help in BAD times. Think Dr. Vijay Mallya portfolio (cash or asset) he built in the past helped him to face huge huge losses in airline/IPL etc.. business. as long as we manage the bad times good time will enter soon

He is a king of good times anyway

[dkamath]

Am using the public transport service to go to work, for about a month now.
The BMTC "Vajra" service is pretty good and is saving me about 55% on my daily fuel expense. Suggesting the same to those who have the convenience of the Volvo service along their home<->work route.

[Off topic: In the bargain, made a new acquaintance in the form of the conductor, who now always greets me with a smile. What used to be a monotonous drive plagued with anticipatory braking and cursing, has now been transformed into a peaceful commute, hehe]

[Laxminarayan]

Originally Posted by dkamath

Am using the public transport service to go to work, for about a month now.
The BMTC "Vajra" service is pretty good and is saving me about 55% on my daily fuel expense. Suggesting the same to those who have the convenience of the Volvo service along their home<->work route.

[Off topic: In the bargain, made a new acquaintance in the form of the conductor, who now always greets me with a smile. What used to be a monotonous drive plagued with anticipatory braking and cursing, has now been transformed into a peaceful commute, hehe]

Same here.. didn't actually realise that the transport facility in bangalore is not all that bad.. Used to go to office by car.. now have reduced it to twice in a week. I can do a lot more sitting in the bus, read otherwise take a nap.. I felt the volvo services are good and have tried normal buses as well.. they are not too bad either.. The time difference of me travelling by car and take the bus is not too much (around 20 mins or so).. Good that I've learnt something :-)

[NFS2024]

We still have not faced the full consequences of the recession in India atleast. While the domestic industry might be doing well, most of the companies are dependent on exports.

There is going to be more bloodbath in job market in the months to come in India. Am all prepared for it mentally and of course trying to prepare for it financially as well.

[goandude]

its ironical that for these last many years the public sector with lethargic work culture and average salaries and assured job security suddenly looks so attractive today. with the 6th CPC the average salaries have almost doubled. so when the world is tightining their belts the central govt employees are smiling all the way to the bank. (notice i didnt say laughing)

[sammyboy]

Goandude : Thats so true.
On the other hand, my B-I-L works in an IT firm too. Couple of months back he got a 15-20% raise. A few days back his firm laid off about 20 employees (10% of their total strengtn in India) including his boss, who he always said was a very good resource, and he was really scared. Yesterday, he got promoted . He still doesnt know how he should feel.

[goandude]

Originally Posted by dkamath

Am using the public transport service to go to work, for about a month now.
The BMTC "Vajra" service is pretty good and is saving me about 55% on my daily fuel expense. Suggesting the same to those who have the convenience of the Volvo service along their home<->work route.

[Off topic: In the bargain, made a new acquaintance in the form of the conductor, who now always greets me with a smile. What used to be a monotonous drive plagued with anticipatory braking and cursing, has now been transformed into a peaceful commute, hehe]

check my post about a year ago. perhaps preparing for the slowdown??
http://www.team-bhp.com/forum/street...tml#post797718

[SBR]

I work for a very large IT firm. There has been huge cost cuttings every where within the company. Even though not in the media, every day atleast 15-20 ppl are being given pink slips citing performance issues.

My Boss & his boss, both of them have resigned citing personal reasons and I am not sure whats in store for me

[dkamath]

Originally Posted by goandude

perhaps preparing for the slowdown??

Right said. Attempting to clear off atleast the car loan with excess funds saved. Taking the public transport seemed to be the easiest way to make a beginning into managing finances in the prevailing economic situation.