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Satyam staff get offers with 50 percent pay cut
By siliconindia
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Saturday, 07 February 2009, 22:31 IST |
19 Comments
Hyderabad: Employees in the staggered Satyam Computers, who are in search of jobs outside the company are in great dilemma as they get offers from other companies with a salary that is only a half of their current package, reported Business Standard.
"We are in a tricky situation. If we join another company, we will get a lower salary. If we stick around, we are not sure how long we will be secure," said an employee with Satyam's Hyderabad operation.
Another employee mentioned, "Consultants are extracting details from Satyam-ites on their plans to relocate, their expectations on salaries and other perks, but they are not revealing who these clients are."
The employees who have attended interviews at other companies hesitate to take the process forward because there is no major jump in salaries and the job profile offered is not the same. Employees believe that a job change will mean a lot of updating to fit the new job descriptions.
Though the company officials assure that there would be no lay-offs and pay cuts, employees are concerned about future. A team leader of Satyam opined that there should be a takeover of the company, which would remove a lot of the psychological trauma associated with current developments. He said that many associates have decided to stay with Satyam for two or three months more. "Satyam is not Ramalinga Raju alone. The employees understand that and they're all working hard to see the bigger picture," pointed out another employee.
On the other hand, MNCs have started to catch the talented professionals from Satyam for lower pay scale. "Companies are targeting middleand senior-level employees from Satyam who are otherwise more expensive to get. They are not being offered a significant jump but slightly more than their current salaries," head of a reputed HR consultancy told The Times of India.
