satyam latest news, satyam news, satyam vpp, satyam share price, satyam, satyam virtual pool;Satyam to put 7,000-10,000 staff on "virtual pool"
MUMBAI - Between 7,000 to 10,000 Satyam employees have been put in a virtual pool, continuing their association with the company but with reduced pay, the IT firm said in a regulatory statement Thursday. The virtual pool programme is an innovative way of retaining the excellent human assets of Satyam despite the difficult economic situation, chairman Kiran Karnik said in the statement.
The staff put in the virtual pool will get part of their salaries for up to six months from this month, Satyam said after a board meeting in Hyderabad.

HYDERABAD: The Satyam Computers board that met on Thursday in Hyderabad cleared the proposal for implementing the virtual pool programme to send
close to 10,000 employees on a sabbatical.
Employees will contuinue to have access and guidance to upgrade their skills in Satyam's learning programs.This is a one-time program that is aimed at addressing staff costs while retaining talent within the company, a statement issued by the company said.
The virtual pool programme, would be applicable for Satyam's associates working in India. reports
Duration of VP varies, 6 month for the S band and 4 month for associate from band T to I2. All the other allowances are cut that includes the LTA and Medical allowance.
How is the government going to handle such kind of situation?
Is This is a kind of indian layoff?
Hope Satyam will not fire their associate and will give them co-operate behavior, This will definitely bring a little smile to their faces. Hope they will call these guys when the economic recession is over.