Thread regarding Syntel Inc. layoffs

In Syntel Accounts Amex, Humana, Transamerica, Fedex, Manulife shrinking billable head count both onsite and offshore.In Humana next couple of weeks they reduce 500-800 production support resources and also same in Amex. CEO said in last Quarter results more excitement developments in OCT this is it means.

What is the state of Syntel Business? Is it shrinking or growing?

be practical - dont u know that if you pay IT company HR thro consultants u get job easily. Just need to know the right consultants who handle money to HR mngrs

if you lost ur job this is best way to get back into job

If Indian IT firms are laying off experienced people who worked with them more than 5-10 years one can understand the quality of experience gained by working in Indian IT firms. Working for 5 - 10 years in these forms makes one worth less in the job market, time to get out of these careers-- Trainees - you are just cheap labour....pity you

the beauty of typical Indian management of IT firms is that they dont wants to hire laid off people. TCS wont hire if you gap more than one year. most firms wont hire if you are senior person( you are not entitled for livelihood if you have 10 years exp). People want perfect lookin profiles campus hire with full continuity (if does not matter if you don't have real skill in tech). many firms dont have proper panels to screen people and assess,(many times same panel is controlling hiring for years or decades leading to syndicates) Rather than evaluate the person's skill exp typical Indian HR people keep focusing on the negative points in the profile . worst thing is HR teams across indian companies trade private data of ex employees (as part of relationship and influence building process )

if the interview panels are badly compromised and HR team in poone loaded with people from Madya pradish/chattisgar (reason most trainees from indore/ bhopal), and in chinnai no need to tell. one understand quality of employees (computer science grads not able to program after the 3-6 months initial training is no wonder magic of interview panel.

New translated version of 1-5-10, I billion in next 5 months by reducing employee strength to 10,000. Prabhu daya karo kaise bhi karke 1 billion ka sapna pura karo, thodi si to lift karade.

I know people who got laid off by Syntel got good offfers from Big Indian Consulting companies who offered far far better base salary plus joining bonus of 5000$ and annual company Bonus 15 times more than Syntel annual bonus. I thank Syntel which has released me from the services. Trust me Who ever got laid off by Syntel would land in better job opportunities so don't worry and thank Syntel and take it in a positive way. Syntel has good resources who brought lot of experience and skills without any cost to Syntel as everyone knows Syntel doesn't invest in training to the resources. Those who got laid off would be lucky ones. Hiring process in the job market is bit slow but seen lot of people got good jobs.

r u guys laying off senior staff and hiring unskilled staff to boost margins, increasing the risk of failure and reducing quality. india IT company show lot of intellectual property on websites while scouting for work but nothing is found really genuine. just ripoff from opensource code and give a cacthcy name nothing really useful

Is it not illegal to circulate wrong information while declaring results.

Keeping on trimiing staff to maintain margins shows a shrinking business.

Yes it is correct. Nitin Rakesh CEO & President hope to share more exciting developments in the next quarter.

This morning, Syntel released its financial results for the Second Quarter 2015. I wanted to share some key highlights with you:

· Revenues for Q2 2015 were $239.8 million, up 5% from year-ago quarter and 9% sequentially

· EPS for Q2 2015 was $0.72 per diluted share, up 2% from year-ago quarter, and 51% sequentially

· Global Headcount of 23,006 on June 30, 2015, down 5% versus prior year

· We ended Q2 2015 with $929.7 million of cash & short term investments

· 2015 Guidance: Revenue of $985 million to $1.005 billion and EPS in the range of $2.70 to $2.85 based on current visibility levels and an exchange rate assumption of 63.5 Indian rupees to the dollar