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Cutting Satyam staff last option - Tech Mahindra

By SiliconIndia | Tuesday, 21 April 2009, 20:13 Hrs | 11 Comments

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.

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Reader's comments(11)

1: let them keep there words!

Posted by:Naveen - 22 Apr, 2009

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2: last Option - my foot.M & M ( tractor division ) hires fresh engineers , pays them in cash for 29 days, compulsory off on 30th day...and then fires them all after squeezing them like this for a year..there is no record that the guys were ever on the rolls of the company...then the next batch of coolies is hired.....worse than manual daily wage laborers...Satyam people had it too good for many years but as the saying goes ..."no party lasts forever"...

Posted by:venu - 22 Apr, 2009

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3: Mahindra will see every oppurtunity to sack people,best example its own franchise Bristlecone & mahindra consulting.People are sacked ruthlessly..without any reason, being having work in there kitty..god save satyam employee.

Posted by:Firoz - 22 Apr, 2009

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Dear Firoz, Your input has been helpful for me in deciding my career. Can you please throw some more details of what happened in Britle cone ? i am sorry, I an not aware of it.
Rgds
Vinay

Vinay Replied to: Firoz - 22 Apr, 2009

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5: What's the first option!?

Posted by:Varun - 21 Apr, 2009

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6: these days companies are taking layoffs to be the first process of any cost cutting measure. it is very noble of them not to think of it now.

Posted by:neha - 21 Apr, 2009

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From now onwards we should demand them for more compensation, when we are in HR interview level. after HR replys "Why?", we have rights to ask them for Guarantee for job (Job Security). i hope then only they come to know the employee value.

Nathan Replied to: neha - 21 Apr, 2009

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what is the "second last" option?

Jashan Replied to: Nathan - 22 Apr, 2009

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First, last, second last....... all are same: sack employees in the name of cost cutting

Deep Replied to: Jashan - 22 Apr, 2009

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10:

Anyhow, They confirmed Layoff....

Jagadeesh GS Replied to: Deep - 22 Apr, 2009

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11:

it's quite true they will sack the emplyee's....but i think they should'nt hire fresher's now.as they know their condition ...i cant understand why they people are making fool to newly graduaates....

nd gupta Replied to: Jagadeesh GS - 23 Apr, 2009

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