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Chennai: Months after assuring that there would be no further lay offs,
Mahindra Satyam may just lay off another 5000 benchers. Many employees
on the Virtual Pool Program (VPP) of the company have been sent a
formal notice of two months by e-mail.
According to the Times of India, the mail dated October 19, reads: "In
our earlier communication dated June 11, 2009, you were placed on VPP
for a period of six months and accordingly, your Virtual Pool Leave is
due to end on December 18, 2009. It is rather unfortunate that due to
the continued economic constraints and business outlook, we do not
anticipate that we will have the ability to recall many of our valued
associates within the VPP period."
On June 11, the company had announced the creation of the virtual pool,
placing around 8,000 associates on the bench. "The surplus employees
will be put in the VPP and paid basic salary, PF and medical
insurance," Vineet Nayyar, CEO, Tech Mahindra, had said while ruling
out any retrenchment.
However, with the six-month period of the VPP set to lapse in December,
the company has served a two-month notice, as required by the
employment contract, reportedly on over 5,000 employees. Sources said
that the company did not have enough projects on hand and was not able
to recall many associates.
A Mahindra Satyam spokesperson said that the company had absorbed about
1,500 associates from the virtual pool. The spokesperson also denied
that the company was "laying off" people, even as the mail speaks of
"separation of employment".
"We have given these employees an option of availing outplacement
services. We will try to help them to the best of our abilities," he
said.
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