Ups and Downs...

Infosys recently reported stellar earnings and reported that it "gave its Indian staff an average wage increase of 8 per cent and international staff 2 per cent for this year. The group had deferred any decision on the pay rise at the beginning of its fiscal year in April because of the uncertain global outlook. The group also added a net 1,548 employees in the September quarter, bringing its workforce to nearly 105,500, reversing the trend in the first quarter of this fiscal year, when its workforce shrank for one of the first times in the company's history..." (from www.ft.com)

On the other hand, even highly profitable firms have been cutting salaries, benefits and laying off employees in the U.S., which still provides the largest single-country revenue for these firms. As the dollar falls the international revenue will translate into more dollars but one has to be concerned at the moves by these firms.