rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » Govt to support Tech Mahindra to make Satyam viable

Govt to support Tech Mahindra to make Satyam viable

June 09, 2009 19:12 IST

The government said on Tuesday that it will support Tech Mahindra, which declared that about 10,000 employees are surplus in Satyam Computer, to make the scam-hit company viable.

Tech Mahindra is the new owner of Satyam. ". . . But understandably they (Tech Mahindra) want to make company viable and for that purpose, whatever steps they take we will support them (Tech Mahindra)," Minister for Corporate Affairs Salman Khursheed told reporters.

Many software companies are having extra employees and each company is trying to handle in the best possible way and in that sense Tech Mahindra and Satyam are not in an unusual position.

Last week only, the minister had said that the government will not turn a 'blind eye' to the issue of layoffs in scam-hit Satyam Computer, which has now been acquired by Tech Mahindra, a group firm of Mahindra and Mahindra group.

"Layoffs -- this is something we are not going to turn a blind eye to as we have a relevant presence in decision making," Khursheed had said.

Asked about the sensitivity of the subject, he said today 'as far as senstivity about human problem is concerned, I think they have exhibited it extremely well.'

There were reports that Satyam was planning to lay off about 8,000 non-billable (non-II) staff working in departments like marketing, HR and administration.

© Copyright 2013 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.