Posts Tagged ‘Satyam’
Satyam to sack 8,000 employees
Posted by: manoj1987 on: May 24, 2009
- In: From India
- 1 Comment
news source : DC
dated : 24-05-2009
At least 8,000 employees of Satyam Computers will be sacked from June 1.Notices have been prepared and will be issued to staff from Monday, sources said.
This comes against the assurance of Tech Mahindra, new owners of Satyam, that it would would go for the “least painful” ways to cut costs.
“ [...]
Tech Mahindra buys major number of shares of Satyam
Posted by: manoj1987 on: April 13, 2009
Tech Mahindra, an M&M-promoted company ,a mid-sized IT outsourcer, has won the bid for Satyam Computer after bidding at Rs 58 per share. Tech Mahindra has secured complete funding to acquire a 51 per cent stake in Satyam. Reports say that Tech Mahindra may be interested in acquiring Satyam as part of its [...]
Satyam scam: The mega corporate fraud
Posted by: manoj1987 on: January 7, 2009
In the country’s biggest corporate fraud involving about Rs 8,000 crore, iconic IT company Satyam was hurtling towards disaster following the shocking disclosure of accounts fudging by its founder Ramalinga Raju, who then quit as chairman – leaving an uncertain future for the company and its 53,000 employees.
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