New Delhi, Friday 09 Jan 2009: Satyam Computer on Friday announced holding back employees salaries for two months, even as rumours were rife that the company might lay off close to 15,000 workers in the coming days.
The offices of Satyam Computer were rife on Friday with the talks about forthcoming pink-slips at the company, which needs over Rs 500 crore every month just to meet its staff costs and has admitted that its cash position was not encouraging. Employees said they have received an e-mail saying the company would hold back salaries for two months and asked staffers to bear with it.
However, the company official declined knowledge of any such e-mail and the issue would be looked into. Even as the company spokesperson denied any layoff plans as of now, the rumours put the estimated job cuts at close to 15,000 by the end of this month.
Employees at the company said on condition of anonymity that they were hearing about imminent lay-off of people who were sitting on the bench or were close to completing their assigned projects. Besides, those being retained would be asked to take substantial salary cuts, they added.
- By KOL News , Written on January 9, 2009
2 Responses to “No salary for Satyam staff for 2 months”
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Can they reduce all employee’s salary in such a ratio so that they don’t need to do job cuts of 15,000 employee?
most of the students in our country aim the post of computer engineers is mainly due to the salary and the honor they get in the society …..
most middle class pupil is doing their engineering gradution in the hold of educational loans.that is to be paid after they got job .if the situation moves like this what will be their fate?