English Deutsch Espanol Francais Italiano Portugues Russian Arabic Japanese Korean Simplified Chinese

Jun 4, 2009

Satyam may lay off 5,000

The full board meeting of Satyam Computer is likely to be held on June 11 after its new owner Tech Mahindra assumed charge and the bo
ard may draw a consensus on the sensitive issue of laying off as many as 5,000 employees in phases.

Sources said the meeting is scheduled to be held on next Thursday or Friday and for the first time the full board -- six government-nominated members and four member from Tech Mahindra (through its arm Venturebay Consultants) -- will discuss the business strategies.

A company spokesperson said as and when the meeting takes place, there will be comprehensive discussions on all related issues. He, however, did not divulge details of the agenda or whether or not the meeting would look at ways on how to rationalise the employee strength.

Sources said given the sensitivities of the situation, the board is likely to draw a consensus on the 'lay offs' to be undertaken which may take the shape of keeping 5,000-10,000 people on the bench (reserve).

Tech Mahindra CEO Vineet Nayar had recently said Satyam has 10,000 surplus staff and the company would look at the 'least painful' ways to handle the situation.

"It is a question of revival and viability", they said. Last week, Corporate Affairs Minister Salman Khurseed had said the government will not turn a blind eye to any lay offs in Satyam.
Add this post:
  • Agregar a Technorati
  • Agregar a Del.icio.us
  • Agregar a DiggIt!
  • Agregar a Yahoo!
  • Agregar a Google
  • Agregar a Meneame
  • Agregar a Furl
  • Agregar a Reddit
  • Agregar a Magnolia
  • Agregar a Blinklist
  • Agregar a Blogmarks