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Satyam Computer Services, which is now controlled by Tech Mahindra, is planning to lay off 12,000 to 14,000 employees.
Sources said that the new management made a formal announcement before senior management personnel on Thursday on the issue of reducing manpower by up to 14,000 people.
Satyam currently has just over 40,000 employees, of which 19,000 are ‘billing employees,’ while just over 20,000 are ‘non-billing’ staff. Almost everyone currently on the ‘bench’ is in danger of losing employment at Satyam, a source said.
A Major portion of the satyam employees especially the keralites are looking for a job in Technopark Trivandrum or Infopark Cochin. Many companies in Technopark has already flooded with resumes of Satyam employees, and this layoff will result more competition to secure a job in this tight global economic situations.
source: rediff
This is sad news.Things just seem to be going from bad to worse.Wonder when normalcy will return.Incidentally there is an interesting website that is specifically dedicated to recession victims.It offers help and discusses all issues related to recession- http://www.angstcorner.com. It’s worth a visit!
it’s a true fact my frnd over thier confirmed,there was nt ny single project from past 2 yers for them
12,000 employees will be laid off from satyam, and it will create another issue to the IT. from where we can accomodate all of them? it will create another race for the job.
Technopark companies already got so many resumes, and many satyam employees are already joined in technopark companies. also this is a warning sign for every company with more non-billable resources.
we din expect this from Tech Mahindra, they could have manage it better
But what will happen if your non-billed resources are more than your billing resources?