Mahindra Satyam announced that it will not pay salaries to employees in the virtual pool after December 18. The employees under this virtual pool program (VPP) will, however, have the option to stay on the company’s rolls without pay till March 2010. In a recent email to the associates, the Satyam management stated, “We continue [...]
Posts Tagged ‘Satyam’
22 Oct
Mahindra Satyam (formerly Satyam) plans to layoff 5,000 employees on bench.
Post Diwali weekend, many Satyam’s employees on the Virtual Pool Program (VPP) of the company were given a formal notice of two months by e-mail. Virtual Pool Program (VPP) were for people in bench. The mail reads, “In our earlier communication dated June 11, 2009, you were placed on VPP for a period of six [...]
10 Sep
Sign of revival for Satyam. Mahindra Satyam brings back variable pay.
Good news for Satyam employees. Mahindra Satyam said it has reinstated the variable portion of salaries of employees, a move which indicates the revival of the once fraud-hit firm. “Variable pay is now being re-instated within 6 months (effective October 2009),” Mahindra Satyam said, adding various benefits like ESOPs and associate welfare programmes will also [...]
26 Aug
Mahindra Satyam BPO (Nipuna earlier) hired 700 and planning to hire 300 more.
BPO arm of Mahindra Satyam (Nipuna earlier) seems to be on a hiring spree with plans to recruit 300 employees by the next month. They already hired 700 employees in the last one month. The company has recently bagged a major contract from a domestic client for providing it back office support. “To support the [...]
20 Jun
Good news pouring in from Indian IT Services Providers. Infosys, TCS, Satyam, Tech Mahindra disclosing few nice surprises.
Last week Satyam (Part of Tech Mahindra now), Infosys and TCS disclosed few nice surprises. It seems that Indian IT Service sectors has left the past and looking ahead for future. In relief to the Satyam employees, about 400 people who were asked to sit on the virtual bench have been called back into the [...]
21 May
Satyam lost three more major clients.
Two US-based clients of Satyam Computers, Agilent Technologies and Lowe’s Companies, along with another banking sector client Euronet Worldwide, have terminated their contracts with the scam-hit IT firm. The firm had been losing clients from the time the scam broke in January this year and Tech Mahindra’s (TechM) takeover has not been able to arrest [...]
13 Apr
Tech Mahindra is the new owner of Satyam. Tech Mahindra wins Satyam bid.
Tech Mahindra on Monday outbid L&T and others and won the Satyam bid, TV reports said. According to Times Now sources, Tech Mahindra will pay Rs 1757cr for 31% stake in Satyam. It will pay Rs 58 per share of the company. The face value of Satyam shares is Rs 2 per share. Meanwhile engineering [...]
1 Apr
A lot of Satyam employees gets 10% hike as well as new company. Join erstwhile Merrill Lynch now Bank of America.
About 250-300 employees at fraud-hit outsourcer Satyam Computer Services are joining Bank of America, a newspaper reported on Wednesday. The employees were working on a Satyam project for Merrill Lynch, which was taken over by the US Bank after it was hit by the subprime crisis last year, it said. The project was not renewed [...]
3 Mar
Layoffs History in India by Indian IT Companies. TCS, Infosys, HCL Tech, Satyam, Patni, Mastek, Motorola, Capgemini, Sun, Yahoo, Hexaware, persistent and GlobalLogic layoff employees from India offices.
Please find compiled list of all layoffs across Indian IT companies. This list include layoffs from TCS, Infosys, HCL Tech, Satyam, Patni, Mastek, Motorola, Capgemini, Sun, Yahoo, Hexaware, persistent and GlobalLogic. (Please click this link to see details of all layoffs by MNCs all over world. List of companies include Google, Microsoft, Texas Instruments, IBM, [...]
18 Feb
Senior Managers in Satyam are in trouble. Satyam asked two senior managers to quit. More will follow suit.
Fraud-hit Satyam Computer Services is looking to trim the number of its senior managers, a company spokeswoman said on Tuesday, as the cash-starved outsourcer plans to find a suitor. “Two managers have gone. We do not have a number but it is likely more will go,” Archana Muthappa, head of media relations in India said [...]
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