Abstract Science Construction’s business is in planning, developing and building road projects. The major of its clients are municipalities, city governments, and other public sector entities. While the bankruptcy rates for these clients is very low, when economic downturns happen, their ability to pay in a timely fashion also suffers. This leads to businesses such as Science Construction needing to take on additional debt and to find creative methods in order to stay afloat during times of recession. Methods such as selling accounts receivables at discounted rates and taking larger lines of credit through banks and other lending institutions are some of the ways organizations can remain viable when their cash inflows have turned into a trickle. Science Construction is asking the Turkish Courts to postpone their bankruptcy proceedings for a year while they attempt to restructure. Through this, suggestions such as forcing shareholders to pay their debt to the organization, gaining credi
The recent measures adopted by US president to impose more tax on those companies who outsource labors mainly from India, China or Philippines; may not encourage the company to source their workforce locally. Such measures have been adopted by President to salvage US economy from recession, unemployment et el. He expects this measure will motivate the US companies to offer more employments to Americans; so in turn this will help salvage US economy to some extent. May be it is beyond President Obama’s wild imagination that in India a high skilled engineer can be hired for $2 or less per hour! In US at least $8-10 are paid to unskilled labors per hour. Obviously it will be still attractive to outsource from India than engaging local workforce despite of higher tax burden for US companies. Though slapping more tax will shrink the margin and reduce the bottom line (profit)of the Indian companies. This has been opined by the industry experts.
Well this may be matter of relief for Indian IT companies but there is a matter of grave concern for Indian software engineers or IT personals. Lack of any ethics, due to certain amendments in labor law, most of the Indian or foreign companies having work base in India specially in IT sector are indulging in exploitation of their work force. It is unthinkable elsewhere, barring war fields, any worker is working at a stretch for 21 to 22 hours! Usually working for 12-14 hours per day and without any week end off is not very unusual in this industry. Mind it this out stretched working hours carry no financial benefits; ever now a days with a plea of recession most of the IT companies have withdrawn subsidized Tiffin, lunch and transport facilities.
The spirit of “May Day” , that stands for 8 hours a day work has been thrown away. Surprisingly, none notices! It seems the days of ‘indentured labour” or “slavery” is back again. Let us wait for another best seller like ‘Uncle Tom’s cabin’!
Well this may be matter of relief for Indian IT companies but there is a matter of grave concern for Indian software engineers or IT personals. Lack of any ethics, due to certain amendments in labor law, most of the Indian or foreign companies having work base in India specially in IT sector are indulging in exploitation of their work force. It is unthinkable elsewhere, barring war fields, any worker is working at a stretch for 21 to 22 hours! Usually working for 12-14 hours per day and without any week end off is not very unusual in this industry. Mind it this out stretched working hours carry no financial benefits; ever now a days with a plea of recession most of the IT companies have withdrawn subsidized Tiffin, lunch and transport facilities.
The spirit of “May Day” , that stands for 8 hours a day work has been thrown away. Surprisingly, none notices! It seems the days of ‘indentured labour” or “slavery” is back again. Let us wait for another best seller like ‘Uncle Tom’s cabin’!
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