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Satyam may lay off 5,000
Posted on: 05-06-2009 , 04:: | DY365 Bureau

may draw a consensus on the sensitive issue of laying off as many as 5,000 employees in phases.

Sources said the meeting is scheduled to be held on next Thursday or Friday and for the first time the full board -- six government-nominateda members and four member from Tech Mahindra (through its arm Venturebay Consultants) -- will discuss the business strategies.

A company spokesperson said as and when the meeting takes place, there will be comprehensive discussions on all related issues. He, however, did not divulge details of the agenda or whether or not the meeting would look at ways on how to rationalise the employee strength.

Sources said given the sensitivities of the situation, the board is likely to draw a consensus on the 'lay offs' to be undertaken which may take the shape of keeping 5,000-10,000 people on the bench (reserve).



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