Recent Event Highlights: 8,000 Satyam employees on virtual pool, Satyam to bench 24% staff, Satyam to bench 24% staff - Calcutta Telegraph, Slashed pay, virtual job for over 7,000 Satyam staff, Virtual Pool for those on bench, Satyam won't sack, to pool 10,000 staff
Created by dipity on Jun 12, 2009
Last updated: 06/16/09 at 06:34 AM
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Virtual pool employees to get basics salary with PF & health insurance; board not to recommend open offer
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...The plan staves off the threat of job losses that hung over the 41,622 employees of the fraud-wracked software giant. The virtual pool will house almost 24 per cent of Satyams employees. Associates picked for the virtual bench will receive basic pay in addition...
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Calcutta Telegraph
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http://www.telegraphindia.com/1090612/jsp/business/story_11099775.jsp
Calcutta TelegraphSatyam to bench 24% staffCalcutta Telegraph, IndiaJune 11: Satyam Computer Services today announced plans to create the largest “bench” in the software industry — what it termed as a virtual pool of 8000 to 10000 software professionals who would be on reduced pay for a period of six months. ...techm not to retrench Satyam employees Indian ExpressSlashed pay, 'virtual' job for over 7000 Satyam staff Thaindian.comall 428 news articles
http://www.telegraphindia.com/1090612/jsp/business/story_11099775.jsp
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...7,000 to 10,000 Satyam employees have been put in a virtual pool, continuing their association with the company but with reduced pay, the IT firm said in a regulatory statement Thursday. The virtual pool programme is an innovative way of retaining the excellent...
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Webindia123
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http://news.webindia123.com/news/articles/Science/20090611/1273162.html
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...June 11 Satyam Computer Services has decided to launch a `Virtual Pool Program’ starting June, 2009. It will be a one-time initiative to retain talent while addressing staff costs. The initiative, perhaps the biggest exercise in Indian IT sector to ‘manage...
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Hindu Business Line
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http://www.thehindubusinessline.com/2009/06/12/stories/2009061251800400.htm
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...pain,” observed Ajit Isaac, managing director of HR outsourcing firm Human Capital Solutions. A Satyam statement said the “virtual pool” is a one-time programme, suggesting that further drastic measures to trim staff costs may not be needed. Former Nasscom...
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Economic Times
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http://economictimes.indiatimes.com/Satyam-wont-sack-to-pool-10000-staff/articleshow/4646434.cms
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...staff put on virtual pool will get part of their salary for up to six months, effective from this month, Satyam said in a statement after a board meeting in the southern city of Hyderabad. Satyam's founder and former chairman shocked investors in January by...
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International Business Times
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http://www.ibtimes.com/articles/20090611/satyam-put000-10-000-staff-on-quot-virtual-pool-quot.htm
CXOToday.comGovt Assures Satyam Staff Against LayoffsCXOToday.com, IndiaThere were reports that Satyam was planning to lay off about 8000 non-billable (non-II) staff working in departments like marketing, HR and administration. Tech Mahindra had announced last month at a press meet it may opt for the "virtual pool" sacking ...
http://www.cxotoday.com/India/News/Govt_Assures_Satyam_Staff_Against_Layoffs/551-102594-912.html
Siliconindia.comSatyam to lay-off 7500 to 8000 non-billable staffSiliconindia.com, IndiaSources also said the outsourcer may opt for 'virtual-pool' sacking method. The company would ask some of the staff to take 75 percent of its salary and take one-year off and look for a job elsewhere with the fragile assurance that they would be ...
http://www.siliconindia.com/shownews/Satyam_to_layoff_7500_to_8000_nonbillable_staff-nid-57155.html
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