Satyam to lay off 5,000 employees?

This could be shocking news for the employees of the Satyam Computers, as new board of the company may press to lay-off 5,000 employees. The meeting of new board members of Satyam Computer is scheduled to be held on June 11, and likely to take core decision including the laying off 5000 employees.

IT firms are hit due the economic crisis in the world. The board of directors will take final decision on the lay-off on the scheduled meeting on June 11. It would be tough time for the employee of Satyam Computers, as they might come know about the lay-off after the board meeting.

Due to the corporate fraud, Satyam Computers has los many contract from its clients across the world. There will pressure on the management to maintain the staff due to having less contacts in the process. Many IT companies have been adopting cost cut measures to keep themselves fit during the economic crisis. The employees of the scam hit Satyam Computers are facing two blows – one the impact of the global crisis on IT sector and other the management decision to reduce strength.

In order bring the company on the development tracks, the management of Satyam might opt the decision to lay-off employees. However, this would be clear after the board of directors meeting. The employees of the company will be waiting for the board of directors meeting that will decide their fate.

Like other companies, Satyam Computer may also take decisions related to lay-off and cost cut measures. The company has lost around its 600 customers due the fraud. In May, CP Gurnani, Sanjay Kalra and Ulhas N Yargop of Tech Mahindra joined Satyam Computers as the new directors. Now the company has ten board of directors including six government appointed directors. Now the board has to take final decision on lay-off, which will decide fate of around 5,000 employees of Satyam Computers.

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