Satyam calls back 400 employees from virtual pool

New Delhi, June 19 (PTI) 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.

However, Tech Mahindra CEO Vineet Nayyar had said they
(employees on the virtual pool) can be called back when
required as regular employees.

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. PTI PML