Bad news for satyam, top officials leaving satyam Organisation

Tech Mahindra, the new owner of the fraud-hit IT major, has prescribed a $200-million cost-cutting pill to get Satyam back to financial health.Tech Mahindra would place its cost-cutting measures, which includes a three phased layoff plan, before the Satyam board on May 15 for approval.Satyam went through such a bad phase,they are formally announcing their layoff plan.The new management is also planning to entrust Satyam BPO’s HR and marketing functions to Satyam team and wind up Satyam BPO support staff,Sources in the company said that two other important people, Krish Kumaraswamy, the SAP Technology Practice head and Ramesh Babu, the second in command for the SAP business unit have also quit. Senior industry analysts said that Kumaraswamy could have quit to join HCL that has recently bagged a major SAP project. who may have been able to bargain for good deals with other firms, which may not have been the case had TechM tampered with their positions.

Industry analysts said that senior employees may have sensed Tech Mahindra’s plan of action which may have included scrapping of some positions or appointing its own set of senior vice presidents.Virender Aggarwal is the biggest wicket,played a key role in Satyam’s expansion in other regions,who also looking for out of the pavillion

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