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Downsizing on? Satyam to trim senior team
BS Reporter in Hyderabad | February 17, 2009 19:45 IST
The government constituted board of scam-tainted Satyam Computer Services [Get Quote] is looking at reducing the number of senior managers so as to ensure that the IT company is "as viable as possible" for a strategic investor.
"The board is looking at various options for the better management of the company and trimming the number of senior managers is one of the options," a Satyam spokesperson told Business Standard.
This was the reason behind the company's two senior vice-presidents, Anil Kumar and Subu D Subramaniam, putting in their papers in the past few days. "They were not sacked, it was worked out in an amicable way," she said.
She, however, ruled out retrenchment of middle-level employees. "At this point, we are not looking at mass resignations," she said.
Satyam's new board is in the process of finding a strategic investor even as offers for management control in the company came from Larsen & Toubro, Hinduja Group, Spice Group and Tech Mahindra [Get Quote].
Last week, Satyam Chairman Kiran Karnik said that the company was financially stable and a final road map for the IT major would be decided in the next 10 days.
Meanwhile, Satyam has informed that it has been ranked eighth in Training Magazine's Top 125, indicating that it is one of the best companies in employer-sponsored workforce training and development.
"This is a special honour for Satyam, for several reasons," said Ed Cohen, Satyam's chief learning officer.
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