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Jun 18, 2009

Govt won’t interfere in Satyam layoffs

The government virtually distanced itself from any controversy around layoffs or job losses at fraud-hit Satyam after its sale to Tec
h Mahindra, saying it was not ready to “meddle” into the affairs of the company.

“Are we going to give them jobs? We have no jobs to give. So why should we meddle,?” corporate affairs minister Salman Khursheed said when asked whether government would interfere in case of mass-scale layoffs initiated by the company’s new owner, a figure that is believed to be around 10,000 in number.

Khursheed’s statement is a volte face considering that he had earlier said that the government would not turn a “blind eye” to any such move initiated by Tech Mahindra “as we have a relevant presence in decision making.” He also said that post its sale to Tech Mahindra, government was now in an “active disengagement mode” from the affairs of the company.
“Our job has been well done... and now they are the ones who are going to find ways and means to revive the company entirely and be responsible for decisions. So we do not come in the picture at all,” he added.

He said the “adverse market conditions” were forcing all companies to take drastic measures. “Every company has got excess staff, every software company... but there is nothing that calls for a special government attention,” he said.

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