Future of Satyam's surplus employees at stake
Facebook Twitter google+ RSS Feed

Future of Satyam's surplus employees at stake

By SiliconIndia   |   Tuesday, 28 April 2009, 11:19 Hrs   |    1 Comments
Printer Print Email Email
Future of Satyam's surplus employees at stake
New Delhi: The situation of employee surplus at Satyam will be reviewed by its new buyer on May 15th. Analysts are of the view that Satyam would not need the same number of employees as its turnover has almost halved. The $2.2 billion company with over 50,000 employees, Satyam has reduced to $1.3 billion, which may imply deliberate reduction of employees.

"We're discussing it with the boards of both the companies. We will try to look at growth opportunities and see if we can balance it out by ramping up (getting more) business. We will review the situation on May 15," CP Gurnani, President (international operations) of Tech Mahindra told Business Standard.

Tech Mahindra and Satyam would continue to function as standalone companies till the shareholders take a call. The new buyer, however, maintains that the Satyam employees, who are in the bench, would be used for its projects instead of opting for hiring more, reports The Economic Times. Currently, the number of surplus employees is between 6,000 and 12,000.

The bloated Satyam workforce will be used along the lines of 'secondment', which imply to transfer a person from his or her own workplace to a temporary assignment elsewhere.

Write your comment now
Submit Reset
Reader's comments(1)
1: sad.. the company stepped into the path of ruin at a time when already the entire world is in a downturn.
Posted by:mohit - 28 Apr, 2009