Rediff.com  » Business » Sasken resorts to pay cut, fewer work days

Sasken resorts to pay cut, fewer work days

February 11, 2009 10:47 IST
Staffers on the bench and trainees at Bangalore-based Sasken Communication Technologies will work for only three days a week and draw at least 60 per cent of their salary during the current (Jan-March) quarter.

The company, as of now, has stopped recruiting. Increasing cost pressures have forced the company to make benched staffers sit at home for two working days every week and cut up to 40 per cent of their salaries, affecting mostly their variable pay component.

The company has also applied the same rule for trainees recruited last year. A company spokesperson confirmed this development
but declined to provide more details.

Its clients, such as Nortel Networks and Motorola, have projected a difficult outlook for the next six months.

Sasken CEO Rajiv Mody recently told media that the company had undertaken crucial cost-cutting measures regarding trainees recruited last year. One such employee told Business Standard, he had received a communication from the company to work only on Monday, Tuesday and Wednesday and a pay-cut would be imposed.

Sasken offers solutions in the embedded communications segment to accelerate product development life cycles.
BS Reporter in Pune
Source: source
SHARE THIS STORY