Just when the Indian IT industry is picking itself up after the double lightning strikes – recession and the Satyam scandal – one more bad news has struck. Barely months after assuring that there won’t be any more layoffs, the management of Mahindra Satyam has sent a two-month notice to many of its employees of the Virtual Pool Program. As per the Times of India report, the laid off employees of Mahindra Satyam received the following mail.
"In our earlier communication dated June 11, 2009, you were placed on VPP for a period of six months and accordingly, your Virtual Pool Leave is due to end on December 18, 2009. It is rather unfortunate that due to the continued economic constraints and business outlook, we do not anticipate that we will have the ability to recall many of our valued associates within the VPP period."
The Virtual Pool program was started on June 11 with almost 8,000 associates as part of it with basic salary, PF and medical insurance. But the six month program concludes in December and almost 5,000 associates will not be retained by the company. The company is helpless in the matter as there aren’t enough projects to justify the headcount.
Mahindra Satyam’s official stand states that it has absorbed around 1,500 associates from the program but went on to deny that the company wasn’t dismissing associates.
Thursday, October 29, 2009
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment