Satyam to put 7,000-10,000 staff on “virtual pool”
Jun 11th, 2009 | By admin | Category: Breaking News, Business News, India NewsIndia’s Satyam Computer Services has on Thursday said that it plans to put about 7,000 to 10,000 staff on “virtual pool” as part of the fraud-hit outsourcing firm’s strategy to manage excess staff and cut costs.
The staff has been put on virtual pool will get part of their salary for up to six months, effective from this month, Satyam said in a statement after a board meeting in the southern city of Hyderabad. Satyam’s founder and former chairman shocked investors in January by saying profits had been overstated for years, putting in doubt the survival of a company once ranked as India’s fourth-largest software services exporter.