Satyam calls back 380 employees from virtual pool

[dhilipkumar]

Satyam calls back 380 employees from virtual pool

In relief to the Satyam employees, about 400 people who were asked to sit on the virtual bench have been called back into the company.

According to sources, nearly, 380 employees, who were on the virtual pool, were asked to join back the company.

Earlier, Tech Mahindra, the new owner of trouble-torn Satyam, had identified and put 8,000-10,000 surplus employees of the IT firm under a programme called, virtual pool, where in an employee is paid part of the salary and retained on job. The move is aimed at cutting staff costs, while retaining talent.

Effective from this month, the programme is applicable on those based in India and allows the associates to take time off from work on a reduced pay structure while they continue to retain their employment. Under, the programme they were paid basic salary, provident fund and medical insurance.

It is designed to cover associates who have not been in billable roles for three months or more and includes support resources.

The news comes a week after the company announced the programe. "As we are getting new business, we are calling back nearly 380 employees from the virtual pool," the person added.

Tech Mahindra, the IT arm of multi-billion dollar conglomerate Mahindra and Mahindra, acquired strategic 31 per cent stake in Satyam for which the then government-appointed board had invited bids for salvaging the IT giant reeling under an estimated Rs 10,000 crore financial fraud.

source : indiatimes