The full board of Satyam Computer Services converted close to 9,200 employees of the IT company into ‘Virtual’ status. The employee strength (standalone) of Satyam as on March 28 officially was 41,622.
A day after the first meeting of the 10-member board with the four nominees of new owner Tech Mahindra gave the nod to the `Virtual Pool Program’ (VPP), the mood among the Satyamites continued to be ‘uncertain’. The formal announcement of the virtual pool for non-billable associates of Satyam in India has come as an ‘expected last blow’ for them.
The VPP initiative takes effect from June 19. The employees have been identified across different levels, from bench to senior positions, who have not been billing for at least three months.
While senior employees have been given four months sabbatical, the junior staff get six months. During this period, they will get only the basic pay, Provident Fund and medical insurance. They cannot take employment elsewhere, explained Satyam sources.
source: BL
A day after the first meeting of the 10-member board with the four nominees of new owner Tech Mahindra gave the nod to the `Virtual Pool Program’ (VPP), the mood among the Satyamites continued to be ‘uncertain’. The formal announcement of the virtual pool for non-billable associates of Satyam in India has come as an ‘expected last blow’ for them.
The VPP initiative takes effect from June 19. The employees have been identified across different levels, from bench to senior positions, who have not been billing for at least three months.
While senior employees have been given four months sabbatical, the junior staff get six months. During this period, they will get only the basic pay, Provident Fund and medical insurance. They cannot take employment elsewhere, explained Satyam sources.
source: BL
1 comments:
Sacked 7535 Satyam employees together may contact Mr P V Krishnaiah, one of the best lawyers in Hyderabad for filing a case in AP Hight Court against Satyam Management.
Mr PV is a senior advocate and bought justice to various senior IAS/IPS professionals.
Mr PV Krishnaiah is reachable at 5-1-681/1 Koti, Hyderabad, Andhra Pradesh 500195 phone 040 24615855 cell 9885111777
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