Now that Tech Mahindra has secured Satyam in its fold, the former is leaving no stone unturned in sprucing up the business and shedding excess flab. This means downsizing operations and Tech Mahindra intends to kick off the process beginning with Satyam BPO (the erstwhile Nipuna). 60% of the support staff in the BPO is set to face the axe. Further, Tech Mahindra has decided to use Satyam's existing marketing, HR and other support functions for the BPO too instead of having a separate set-up. The target is to save about US$ 200 m in costs, which means that more layoffs in the future cannot be ruled out. Given that many departments in Satyam were overstaffed, it is only natural that Tech Mahindra would want to go in for slashing jobs. Thus, while Tech Mahindra's strategy in this regard is pretty clear, Satyam employees continue to be fogged by an air of uncertainty
Look at government inefficiency, food prices have galloped at an alarming rate over the last few months. Some blame it on the poor monsoons. Some blame it on hoarding by greedy middlemen. In my opinion, the government unknowingly itself is a massive hoarder. As per a report in a financial daily, the stock of rice and wheat in government granaries is way above the minimum requirement. Sadly, much of this excess stock is stored in the open. It either rots or feeds pests. In my view, this is a national shame. We cannot get the basics right in such a crucial area when food prices are spiraling out of control and millions of Indians still go hungry. Such stocks should be stored properly and released in small lots to stabilise prices.
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