Remember Satyam Computer Services, the mother of all Indian corporate crooks.
Yes, the same scumbags that falsified years of accounts to boost revenues and profits.
A short while ago, the Indian IT software house (now under new management) announced a new technique to screw upto 10,000 of its India-based employees.
Describing it in corporate BS as Virtual Pool, Satyam said the one-time program aims to address staff costs by reducing the pay of 7,000-10,000 employees.
Satyam said the pay reduction program would cover employees who have not been in ‘billable roles’ (in plain English, this nonsense means the company does not have enough work to support all its employees) for three months or more and support staff.
A Satyam spokesperson told us that the Virtual Pool program would be a combination of voluntary and compulsory actions.
Ha Ha Ha
Satyam is trying to cover up the en masse buggery of its employees as an ‘ innovative way’ and a ‘unique way’ to retain talent.
Ha ha ha. We haven’t laughed so hard in a long time.
Depending on business requirements, Satyam may recall the employees with full pay and benefits.
The Virtual Pool program is effective June 2009.
(BTW, is Satyam in such straitened circumstances that they can’t afford to get their PR person in India a hands-free headset? The schmuck kept whining, I’m driving, I’m driving and hung up without answering our last question on the total headcount. Are hands-free headsets illegal in India?)
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