Satyam to hold back 2 mts salary of emp

Hyderabad/ New Delhi, Jan 9: On Friday, Jan 9 there were reports of Satyam slashing 10,000 jobs because of the company's weak financial status. Satyam employees on Friday, Jan 9 received an e-mail stating that the company will be holding back two month's salary of employees and asked staffers to bear with it.

The company spokesperson denied the reports on layoff plans and declined knowledge of any such e-mail.

Certain sources at the company said that the company was planning to lay-off people who were on bench and people who are on the verge of completion of assigned projects. Besides, the other employees will be cut off with their salaries.

Global HT consultancy firm Hay Group's Practice Leader Mark Thompson said that past experiences suggested that the employees were the most hit by the owner's fraud.

Global HR consultancy firm HayGroup's Practice Leader Mark Thompson said, "Based on past experience ... as with Enron, Worldcom and the Mirror Group, it is likely to be the employees who will suffer most from the fraud perpetrated by their bosses."

OneIndia News (With inputs from Agencies)