Satyam may sack 2,500 employees

India’s fourth largest IT firm Satyam Computer Services is likely to give pink slips to 2,500 employees. The company’s share price fell 9.5 per cent to Rs 368.15 today.

Satyam had a total headcount of 52,000 as of June-end. The company has already put some of its employees under performance improvement plan.

S V Krishnan, global head (HR), Satyam, said, “As part of our appraisal process, we identify around 5 per cent of our associates under the performance improvement category and put them through a structured performance improvement programme.

“Our experience says that about half of this group exits the system either voluntarily or involuntarily, while the others make credible progress internally. We have concluded our appraisal process a few weeks ago.”