Govt assures not to layoff Satyam workers

Posted By: Staff
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New Delhi, Jun 1: Salman Khursheed, corporate affairs minister said that the government will not allow the Tech Mahindra to layoff employees from scam-hit Satyam.

Although the Tech Mahindra and Mahindra group has taken over Satyam, the minister still showed the government's 'active involvement' in the company.

The minister said, "Layoffs -- this is something we are not going to turn a blind eye to as we have a relevant presence in decision making." He also said that his ministry will look into issue with the company.

Commenting on the report that Tech Mahindra CEO Vineet Nayyar said that there were 10,000 surplus people in Satyam, Khursheed said, "We will not allow the company to be taken for a ride. Our opinion and advice are important till things improve."

Earlier some media reports suggest that Satyam is planning to lay off about 8,000 working staff in various departments like marketing, HR and administration.

When asked about similar frauds in the corporate world and whether Satyam was just the tip of an iceberg, he said, "I would call it a symptom of something wrong in the system. You need to treat the system, the root... otherwise the symptom may reappear. If I call it a tip, it means I am saying there is an iceberg."

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