Cutting Satyam staff last option - Tech Mahindra

Hyderabad: As a relief to the employees of Satyam, Tech Mahindra maintains that it has enough of working capital to meet the expenses of the company and the layoff would be a last option. "At this stage, I can't tell it, but to make the company viable we may take some decisions and layoff will be the last option," said Tech Mahindra Vice-Chairman (VC) and Managing Director (MD) Vineet Nayyar.

The company asserts that it has the requisite capital to meet the expenses including salaries. The forensic and investigative authorities are scrutinizing the inflow and outflow of cash. Reacting to the query over job offers made to freshers by Satyam, Nayyar said, "The fact is that it is the first time I am hearing about it. We will certainly look into that once the whole process is over. It's too early to say anything on this."

The MD also assured the focus on stakeholders' interest will be a priority for the company. "The priority focus is being given to retain critical customer-facing resources, so that the customer experience continues undisturbed," he said. He believes that the firm's investment in Satyam also marks an expansion of the firm's interests in other vertical markets, including financial services, manufacturing and healthcare, among others.