New Delhi: A monthly salary bill of Rs 500 crore a month and a question mark on Satyam's cash position - the future of the software major’s 50,000 employees is hanging in the balance.
Recruitment firm Headhunters India says that the company may start layoffs.
“The 10,000 employees who are expected to be laid off will face challenge in getting jobs for at least next 5-6 months,” says Kris Lakshmikanth of Head Hunters.
Satyam denies any layoffs but the uncertainty is painful. India's IT industry is already going slow on recruitment due to the global meltdown.
“Timing is very wrong for the job market anyway, everyone is very cautious in hiring and all of a sudden career of 52,000 employees is on stake,” says CEO, People Strong, Pankaj Bansal
With a slow job market and no immediate solution to the issue in sight, the human resource crisis at Satyam will continue to deepen.
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