Friday, June 26, 2009

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Satyam may lay off mid level executives next

Now it is the turn of middle-level executives to be the victims of cost cutting. Mahindra Satyam plans to trim the role of its middle-level executives, from July 1. Around 70-80 senior leaders may soon become redundant, a company official confirmed.

This decision comes after the announcement that employees who have been furloughed due to lack of work may be fired. Around 8,500 idled employees may be fired in another six months unless the profits get better. The current management will be tested on accountability and the kind of work they have already done. The profits and losses their units have already made will be the measuring point for these employees.

Meanwhile, Ram Mynampati, former Satyam Executive Director is learnt to have put in his papers. He is replaced by Keshab Panda as the head of the healthcare vertical. Mynampati was also the interim CEO after Ramalinga Raju had confessed to the infamous fraud.

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