Cutting Satyam staff last option - Tech Mahindra
By
siliconindia news bureau
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.

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.
Reader's comments(11)
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
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

4: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
Rgds
Vinay
Vinay replied to: Firoz
post - 22 Apr, 2009
post - 22 Apr, 2009
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

7: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
post - 21 Apr, 2009
post - 21 Apr, 2009

8: what is the "second last" option?
Jashan replied to: Nathan
post - 22 Apr, 2009
post - 22 Apr, 2009

9: First, last, second last....... all are same:
sack employees in the name of cost cutting
Deep replied to: Jashan
post - 22 Apr, 2009
post - 22 Apr, 2009

10: Anyhow, They confirmed Layoff....
Jagadeesh GS replied to: Deep
post - 22 Apr, 2009
post - 22 Apr, 2009

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
post - 23 Apr, 2009
post - 23 Apr, 2009
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