Showing posts with label employee. Show all posts
Showing posts with label employee. Show all posts

Thursday, June 11, 2009

Virtual Pool Program (VPP) another form of sabbatical.

Satyam started offer Virtual Pool Program (vpp) for its employees.

VPP : Is keeping the bench staff into sabbatical.Giving some amount of salary and keeping them in pay rolls of the company.

Satyam is offering to employee following only.

1.Basic salary (satyam has very less basic ie 1/3 of your gross is basic)
2.internet allowance (Rs250 per month)
3.This is done for 6 months to less level people and 4 months for big people.
4.Insurance will be covered to them in VPP

what does satyam gain?

1.lowering employee strength.
2.paying basic reduces its expenditure very less.
ex ) Consider 7000 employees selected for sabbatical then satyam would save around

7000 * 30000(on average salary saved per employee) * 12 months = Rs2,52,00,00,000
i suppose it saves 252 crores.
3.employees selected will not be coming to office so the operating cost etc also will be reduced.

This way Satyam which is in profits by the latest news which came will be more profitable.
i thing Markets will take this as a positive news and raise up again.

My personal target for satyam is from 100 -125rs

Friday, May 1, 2009

Satyam employees current status

After techmahindra took up Satyam many satyamites are confident that lay offs will take place.All those who are waiting for project (bench people)
are confident that they will be the primary target.Satyamites who are in wait and watch mode when the whole satyam episode took place started moving fast.They already are waiting for job calls/interviews
and some are holding offers from other companies.Satyamites who are earning more than 10 lakhs can also be primary target these are the middle management people.Many middle level management people started resigning,
this means that they are primary target and they dont want to be sacked.
I think TechMahindra has a good target of reducing atleast Satyam's workforce by 25%.
They can either move some of them to TechMahindra or directly sack them.
But the best thing would be to find some projects for them.
If sacking starts we can hear it might be either forced resignations or direct pink slips.
Many ladies are willing to quit the company before the sacking starts for their personal reasons.
I can see many young freshers who joined the company writing the bank exams/govt exams etc and also applying for higher education abroad and India.Hope for the best in the interest of satyamites.

Thursday, April 23, 2009

satyam 2 axe jobs..tech mahindra

Tech Mahindra, the new owner of scandal hit Satyam Computer Services, is set to axe jobs at the beleagured IT firm to make it a viable business entity.

“Adjustments will be made within a month to trim costs”, A S Murty, Satyam’s chief executive officeris understood to have told his employees on Monday, shortly after Anand Mahindra, VC & MD, Mahindra Group & Chairman, Tech Mahindra addressed over 20,500 employees in the firm.

Satyam has a work force of 48,000 of which 80% are off shore employees and the remaining 20% are on-site workers. The immediate casualties could be workforce on the bench, besides employees doing support functions. An estimated 12,000 employees are on the bench. Key customer facing employees will, however, be retained, said a person privy to the transition plan.

Anand Mahindra also did some plain speaking, though he made no reference to lay-offs, said an employee present at his maiden address at Satyam’s corporate headquarters in Hyderabad.

"We will take a decision on whether or not to re-brand Satyam in a few weeks. Tech Mahindra will also look at a merger of the beleagured IT firm few years down the line, Anand Mahindra is understood to have said. An immediate merger is ruled out as per the terms and conditions of the sale agreement.

Satyam will have a new chief financial officer. “The CFO would be a person with financial excellence and leadership”, said Anand Mahindra. The CFO’s post fell vacant after Srinivas Vadlamni, the earlier CFO who was charged with conniving with the firms disgraced founder B Ramalinga Raju in the fraud, quit.

The Pune based IT services company Tech Mahindra has agreed to pay Rs 58 per share to take management control over Satyam.

Sunday, January 25, 2009

Banks and satyam employees

Many satyam employees are receiving mails ,messages about their credit limits getting cut.Some of them are

1.Icici bank --They reversed the card limit if you dont have any dues.
2.kotak mahindra bank
3.Barclay bank

Kotak Mahindra Bank cut the credit limit from 52000 to 15000 rupees and cash with drawl limit was totally cut.

Barclay Bank cut the credit limits to 15000.

Wednesday, January 14, 2009

Satyam employees against ICICI bank

Many satyam employees who took credit card using satyam payslip ,satyam id card as proof.Got messages(sms) saying that their credit limit was cut down to nearly 90%.Internally many employees started a moment to cancel their ICICI bank credit cards .Many started calling to ICICI customer care to ask why their credit limit was reduced.They got an answer that it is because of Economic Macro Conditions.They canceled their credit cards by telling same reasons.People with only one credit card are waiting for applying new credit card and canceling ICICI bank ones.
They have a good argument to support also.They say that when we got some information about ICICI bank bankruptcy they did change their salary accounts or credit cards.Now ICICI bank doesnt have same faith in Satyam.

ICICI bank may increase credit limits to normal but ICICI bank will suffer because of this decision which hurt the sentiments of Satyam employee

Sunday, September 28, 2008

Appraisal Letter story

here was a contest in TCS comp. To write a fictional story for 500 words max which would start with the line "On a dark and foggy night, a small figure lay huddled on the railway tracks leading to the Chennai station "

This is what a guy wrote for the contest..... .. and surprisingly, it was judged the best short story! This being the appraisal season, you might want to have a peek in to this... :))



On a dark and foggy night, a small figure lay huddled on the railway tracks leading to the Chennai station. At once I was held back to see someone in that position during midnight with no one around. With curiosity taking the front seat, I went near the body and tried to investigate it. There was blood all over the body which was lying face down. It seemed that a ruthless blow by the last train could have caused the end of this body which seemed to be that of a guy of around my age. Amidst the gory blood flow, I could see a folded white envelope which was fluttering in the midnight wind. Carefully I took the blood stained envelope and was surprised to see the phrase "appraisal letter" on it. With curiosity rising every moment, I wasted no time in opening the envelope to see if I can find some details about the dead guy. The tag around the body's neck and the jazzy appraisal cover gave me the hint that he might be a software engineer.

I opened the envelope to find a shining paper on which the appraisal details where typed in flying colors. Thunders broke into my ears and lightening struck my heart when I saw the appraisal amount of the dead guy!!!!! My God, it was not even, as much as the cost of the letter on which the appraisal details were printed.... My heart poured out for the guy and huge calls were heard inside my mind saying "no wonder, this guy died such a miserable death"... As a fellow worker in the same industry, I thought I should mourn for him for the sake of respect and stood there with a heavy heart thinking of the shock that he would have experienced when his manager had placed the appraisal letter in his hand. I am sure his heart would have stopped and eyes would have gone blank for few seconds looking at the near to nothing increment in his salary.

While I mourned for him, for a second my hands froze to see the employee's name in the appraisal letter...hey, what a strange co-incidence, this guy's name is same as mine, including the initials. This was interesting. With some mental strength, I turned the body upside down and found myself fainted for a second. The guy not only had my name, but also looked exactly like me. Same looks, same built, same name.... it was me who was dead there!!!!!!! ! While I was lost in that shock, I felt someone patting on my shoulders. My heart stopped completely, I could not breathe and sprung in fear to see who was behind...... ... Splash!!! Went the glass of water on my laptop screen as I came out of my wild dream to see my manager standing behind my chair patting on my shoulder saying, "Wake up man! Come to meeting room number two. I have your appraisal letter ready".

Sunday, September 14, 2008

Satyam to axe 4500 employees --- is it true?

Satyam to axe 4,500 employees
15 Sep 2008, 0013 hrs IST, Debasmita Ghosh ,TNN



HYDERABAD: Satyam Computers, which has just started giving pink slips to its employees, could potentially downsize its workforce by a whopping 4,500 employees.

This translates to a little less than 9% of the 51,000 employees that the company employs. Company sources say 1,500 employees have been put under the performance improvement plan (PIP), euphemism for employees put on watch list and asked to shape up or ship out. Apart from this, 3,000 others have not been given any increment in the last appraisal cycle, thereby indicating that their services are dispensable.

"This 1,500 plus 3,000 equals 4,500, which indicates the total number of persons who could be eased out of the company," the source said.

On Friday, all employees received an e-mail from the company chief Ramalinga Raju warning them, especially the ones on the bench, to not bunk office and be in their best dress code, failing which they may face strict disciplinary action.

Last week, some 400 employees from across different locations were given the pink slip. Sources also indicated that after getting the message many among the 3,000 have also started leaving jobs. But an estimate of the employees who have left is not known.

A Satyam spokesperson said: "The bottom 5% of those who have got a bad appraisal are put under PIP and given dummy projects to prove themselves. If they fail they will be shown the door. But some of them marked for PIP said they have been given very little time to come up as winners." However, even as it downsizes, Satyam continues to hire new employees in thousands. Over 40% of them are fresh blood just passing out of college.

The spectre of retrenchment is creating panic among employees of the company. "Of the 12 people working in my project, five were suddenly asked to resign, failing which, the company warned, it would fire us. Everything came without warning," said a techie pleading anonymity.


Source : The Times of India
link :
http://timesofindia.indiatimes.com/Business/Satyam_to_axe_4500_employees/articleshow/3483165.cms

Tuesday, July 15, 2008

Patni lays off employees

MUMBAI: After Tata Consultancy Services and IBM Global Services, Patni Computer Systems has laid off close to 400 employees citing non-performance issues.

The country’s sixth-largest exporter said it was part of a routine appraisal exercise, carried out every year to weed out non-performers, and not related to any slowdown issues.

“This was an absolutely regular appraisal that is important for any performance-driven organisation. It is something standard we do every year. Employees who have got 0-1 rating on a scale of 5 typically form the basis for the first-level shortlist. These are performance-based resignations; we’ve not issued any termination letters,” said Rajesh Padmanabhan, executive vice-president and head, global HR, Patni.

He said the comparable figure for last year was 148.

In February this year, in the backdrop of a pronounced slowdown in the US, TCS had asked about 500 employees to leave for non-performance. Shortly afterwards, IBM was reported to have laid off 700 freshers.

In case of TCS, the figure was about 0.5 per cent of its total workforce and for IBM, about 1 per cent of its India workforce. For Patni, the figure is closer to 3 per cent of its 14,800 workforce.

A Patni spokesperson said the company continued to be a net hirer. “Retrenchment is a word used when you are facing negative growth or no growth and cutting down on your labour costs. We continue to recruit -- the number of new employees we intend to hire, according to our quarterly results communication, is about 2,000,” said a Patni spokesperson.

Industry sources said the employees were asked to leave a fortnight ago and some of them were even at the designation of project manager.

“Usually, these do not happen at project manager levels. But I know in this case, a project manager working on a GE (General Electric) contract was asked to leave,” said a source, with knowledge on the development, who did not wish to be identified.

Some people in the industry attributed the layoffs to the challenging business outlook Patni and other software companies were facing.

“The performance index is being unfairly used on people on the bench. These employees are not working due to lack of projects,” said a person closely associated with a number of software companies.

Bench is a term used to indicate employees who are not working on any available projects because they are undergoing training or are between projects.

As a strategy, companies also maintain a bench in readiness for new projects. In a slowdown, because of postponement or cancellation of projects, the bench size increases more than what companies plan for.

The Patni stock has risen 15 per cent on the BSE in one month on the expectations of a buyback, which has now been announced for July 10. In the same period, the IT index has gained 2.43 per cent. On Tuesday, the stock ended almost flat at Rs 238.70 on BSE.

Source :Indiatimes

Tuesday, April 8, 2008

IT company

A Banner cum Sign Board In front of an IT company..
Drive Slowly, Dont kill our Employee...
..... Leave them to us

Marriage

Employee: Boss, Now i have got married..! Please increase my salary..!
BOSS: Factory is not responsible for accidents occuring outside the
company..!