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May 25, 2001
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Money > Business Headlines > Report May 25, 2001 |
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Satyam Infoway bears the brunt of employee exodusRaksha Hegde & Savio G Pinto Satyam Infoway, the subsidiary of Satyam Computer Services, has seen a mass exodus in the last three months. Thirty three employees have left the organisation in the last three months. This count is expected to rise, with the company due to conduct the performance appraisal of its employees this month. Satyam Infoway has also tightened its purse strings - its annual budget, which was slated to be around Rs 30 million has been revised downwards though the company has not finalised its budget for the current year. In fact, according to senior officials, they have been allocated under Rs 1 million for the next couple of months. They also add that the company will now be mainly concentrating on channel alliances with other portals. The rationale behind this move is ostensibly to keep the business plans on track, without it being a drain on their resources. When contacted by Business Standard, Ajit Abraham, who heads human resources at Satyam Infoway, conceded that thirty three people had left. Brushing off allegations that the employees were "politely" asked to leave, Abraham said that the people had left for greener pastures. The truncated head count includes 9 general managers, of which two headed the finance and the marketing departments. Seven employees from the erstwhile Indiaworld Communications which merged with Satyam Infoway have also quit. Satyam Infoway has a stake of 24.5 per cent in Indiaworld Communications. While Bombay-based officials say that around 80 content developers have been asked to leave, Abraham dismissed it as a market rumour. "We are doing our performance appraisal this month, like any other company. We may ask around five employees to leave, but that is a routine corporate move," he added. Satyam Infoway has an employee base of almost 1,000 all over India. Powered by YOU MAY ALSO WANT TO READ:
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