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Rediff News  All News  » Business » 5,000 employees quit Satyam since Sept

5,000 employees quit Satyam since Sept

April 13, 2009 17:15 IST
Fraud-hit Satyam Computer, which will soon have a new owner in Tech Mahindra, has lost about 5,000 employees during September-March period of the past fiscal.

"At the end of Q4, the company employee strength was 48,000. Out of these, 43,500 were employees of Satyam Computer stand-alone, and the rest is subsidiaries, contractors and sub-contractors," Kiran Karnik, chairman of the government-appointed board of Satyam said after announcing the highest bidder for acquiring 31 per cent in the IT company.

However he added that at the end of second quarter, Satyam had 53,000 employees.

"In Q3, about 2,000 associates left Satyam making it 51,000. When the government  nominated board took stock of things, it was 51,000 comprising of 45,000 Satyam's stand-alone employees and the remaining from subsidiaries, contractors and sub-contractors," he added.

Satyam Computer, which went through difficult phase after its former promoter B Ramalinga Raju admitted to account frauds.

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