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Satyam Will Save Rs. 1 Crore/Day|
- By CXOtoday Staff, Jun 12, 2009 1724 hrs IST
- Tags : Satyam, IT, Vineet Nayyar
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Satyam Computer Services has unveiled its plan to create a 'virtual pool' for its employees. The company said it could save Rs. 1 crore a day by keeping 10,000 of its employees for a 50% reduced salary for next six months.
Satyam Computer Services has unveiled a plan allow one-fourth of the staff to join a virtual pool by taking time off from work on sharply reduced pay for up to six months starting next week. This will include 10,000 employees of the company. The 'virtual pool' is expected to save the company Rs. 1 crore every day.
"These employees will draw around 50% of their current salary that includes medical insurance and provident fund benefits, for six months. The company will hold a review afterwards," said Vineet Nayyar, director of Satyam and CEO of Tech Mahindra.
However, the company in its statement said that the virtual pool is a one-time program, suggesting that further drastic measures to trim staff costs may not be needed.
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