From the news that gripped the market few days back about satyam going to fire 7500 to 8000 non-billable staff, the nightmare of many of the employees sees the harsh reality being forced upon them.
it is said that “Rome was not build in a day”. True, very true. Satyam has spend many years after Y2K problem, working hard to reach at 4th position in the Indian IT industry. but king’s vision got lost somewhere and all that make the empire destroyed in minutes (Raju’s letter to board).
Satyam Computer Services, which is now backed by Tech Mahindra is all set to sack 7500 to 8000 ‘non-billing’ staff.
The first phase of layoffs has started at Satyam Computer Services with trainers, HR and sales and marketing executives being asked to leave by Tech Mahindra, Satyam’s new owner, reports Indian Financial Express.
“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 percent of their salary or an option to go on a sabbatical. Several benched senior executives have moved out. However, the initial targets are non-engineers in non-IT departments,” said an official source without disclosing the number of employees on the bench who have been asked to leave.
The move comes as government is planning to intervene in Satyam matters. 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.”
Employees from human resource, training and sales and marketing departments are being asked to go on a sabbatical for at least three months. They have not been given a joining date, either.
Tech Mahindra is expected to take a final call on the matter by June 21. In a recent communication to employees, Hari T, Global Head – Marketing, Satyam Computer Services, said, “By the 21st of this month, 80-85 percent of your questions will be answered.” He was referring to questions raised by employees on lay-offs, sabbaticals, reforms and HR restructuring.
Tech Mahindra is facing a huge challenge in managing the growing bench size. The company is working on various initiatives to mitigate the impact of the large bench and utilize the staff. The employees are also being asked to take up multiple roles within their units and other departments like sales and marketing.
