Satyam to sack 8,000 employees

news source : DC

dated : 24-05-2009

satyam

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.

In the last one week, thousands of associates have been informed orally that they will receive the notice before June 1,” a senior associate with Satyam said. Of these, 800 belong to the BPO unit, 3,000 are on the bench and the rest from marketing and HR departments.

The employees have an average notice period of two months and will get their salary for June and July. Most employees have been asked not to come to office from June 1have been informed about the company’s decision to hack at staff numbers due to dwindling business.

The annual assessment report which should be implemented from June has not been taken up, almost confirming that there would not be any increments.

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