Satyam surplus employee issue review on May 15

Posted By: Staff
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New Delhi, Apr 28: The 'surplus employee' situation in Tech Mahindra the buyer of Satyam Computers will be reviewed on May 15.

Analysts estimated that about 6,000 to 12,00 employees are surplus. With $2.2 bn worth company with over 50,000 employees was hit by fraud and had shut down operations reducing the revenue to $1.3 bn. So the analysts have raised questions if the company still needs so many employees.

"It is indeed a situation. We"re discussing it with the boards of both the companies. We will try to look at growth opportunities and see if we can balance it out by ramping up business. We will review the situation on May 15," said C P Gurnani, president (international operations) of Tech Mahindra, who is now also on the Satyam board, on Tuesday, Apr 28.

Gurnani confirmed that the two companies will be working as independent units. However the revenues and profits may be consolidated for accounting purposes, he added.

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