Satyam Has 10,000 People Too Many, New Owner Says

May 22, 2009 at 2:35 pm PT

Satyam Computer Services (SAY) has more than 10,000 staff above what it needs, according to Vineet Navyar, the CEO of Tech Mahindra, which won the auction to buy the fraud-stricken IT outsourcing company.

According to Reuters, Nayer said today that it would be better to reduce staff significantly than to risk putting all 40,000 of Satyam’s workers out of jobs.

“I think the future is great but there will have to be a few sacrifices in terms of compensation, in terms of a large number of things… Some form of least painful way of reduction in staff is an option which will have to be looked at,” he said.

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Tagged with: Barrons, digital, economy, Eric Savitz, frontpage, IT, jobs, Satyam Computer Services, Tech Mahindra, Tech Trader Daily, Vineet Navyar

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