INFOTECH MARKET

Will Satyam Employees in India be Paid Salaries?

The company is tight-lipped. However, it states that it has completed disbursement of the first of two cycles of salary payments to its U.S. workforce for the current month.

Though the company is expecting Rs 1700 crore of receivables, it’s not certain the money will be used to pay staff salaries in India. There may be other priorities to utilize this money.  

In a statement issued today (Jan. 16), Satyam management has revealed it has completed disbursement of the first of two cycles of salary payments of its workforce in the United States for the month of January 2009. 

Now, Satyam has over 50,000 people working with it. Their future is still uncertain in the company, as the new board has yet to take any decision.  

Today, when the whole world is in the grip of recession, the job market is in a bad shape. It’ll be difficult for most employees to quickly arrange a job.

Moreover, other big Indian software, outsourcing companies, citing ethical business practices, are expressing their reluctance to hire Satyam employees. 

As the board meeting is scheduled for Saturday (Jan. 17), employees must be expecting some positive outcome.

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