Munich - Infineon Technologies AG announced Friday plans to slash its workforce by 10 per cent after Europe's second biggest semiconductor group posted a third-quarter net loss of 592 million euros (930 million dollars) amid fierce market competition.

The chipmaker's further loss came the group was forced to announce further writedowns of 411 million euros for its memory chip offshoot Qimonda.

After initially falling by about 2.7 per cent following the release of Infineon's latest results, the group's shares rebounded by
3.3 per cent to 5 euros in mid-morning trading in Frankfurt.

Satyam Computer Services Limited, the country’s fourth-largest computer services group, has signed an agreement with US-based Infospectrum to provide enhanced service to operators, third-party maintenance, repair and overhaul (MRO) and component repair providers in the global aviation industry.

Technology giant, IBM has informed that it has opened its service management centre of excellence in Pune, which will act as a regional hub for IBM Tivoli service management software and strategy.

Pune is a strategic location for India Software Lab for IBM Tivoli software development, support and service teams. The centre will focus on high value areas like telecom, security, automation and asset management.

The Director of Indian Institute of Technology (IIT)-Bombay, Mr. Ashok Mishra has resigned from this prestigious post. He is expected to join US firm Intellectual Ventures in the month of September.

He said that he had earlier submitted his resignation to the Ministry of Human Resource and Development and it is accepted now. Misra is alumnus of IIT-Kanpur. He was a professor of chemical engineering and fellow of the Indian National Academy of Engineering and National Academy of Sciences. He has six patents to his credit.