| Topic : Corporate Layoffs |
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Activity:
2 comments
726 views
last activity : 07 06 2010 20:18:04 +0000
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Layoffs started @ Satyam
Its a bad news really but Tech Mahindra, the new owner of Satyam computers, have started laying off in the first phase. Trainers, HR and sales and marketing executives are being singled out for action.
The first phase of layoffs has started. In the second phase, employees who have been on the bench for less than three months would go away. Some senior executives on the bench are being offered almost 50% of their salary or an option to go on a sabbatical. Several benched senior executives have moved out.
Infact on Monday, commenting on media reports that 10,000 employees could be retrenched at Satyam, Corporate Affairs Minister Salman Khursheed had stated, "Layoffs is something we are not going to turn a blind eye to, as we have a relevant presence in decision making in Satyam Computer Services."
Is there any other way out for Satyam employees......
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