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Satyamites not worried about loss, only job cuts
By siliconindia
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Wednesday, 06 October 2010, 20:19 IST
8,300 for 2008-09 and 2009-10. Majority of the employers said that they are not worried about the huge loss. The Mahindra Satyam management had made it clear that the merger would happen after November 15. Employees, however, feel the merged entity would certainly be in a better position to go out in the market and compete with other top Indian IT services firms and global companies.
Whereas fear in terms of job cut still persist among some Satyamites, as the employees are called at the information technology (IT) outsourcing company, after the proposed reverse merger happens. This is likely after the announcement of the Q1 and Q2 results of 2010-11 on November 15. There will be some job cuts, as there will be some multiple elements clashing in terms of expertise. Job cuts are bound to happen. It is mainly expected in the senior level.
"The results were a very honest statement that the company has given. And keeping in view the liabilities they had, I feel it was a very good exercise that they had done, considering the complexities involved. It was a fruitful projection of the status of the company," said one of the Satyam employees. The employees also say that the financial disclosures have eased the concerns among clients. And in fact, we have started to enjoy respect in the market after the results.
