Amid fears that the US financial crisis will effect hiring plans of outsourcing companies, India's fourth largest software firm Satyam today said it is bullish on hiring and has no plans to recast its recruitment targets.
"We will not cut our hiring targets. This year we plan to recruit 12,000-15,000 people and we are well on target to achieve that," Satyam HR Head S V Krishnan said.
However, he added that the company may postpone some of the new recruitments for next quarter.
Analyst following the sector feels that due to the slowdown in the US economy, the Indian IT companies, who mostly depend on the US market for their revenue, had postponed joining dates of new recruits, raising doubts about their future.
He, however, assured that Satyam will honour every offer made to the candidates. Satyam currently has over 53,000 employees on its rolls.
Talking about reports that Satyam has fired 4,500 employees, he said, "We have not asked anyone to leave the organisation."
"It is misreported. As part of our appraisal process we identify around five per cent of our associates in the performance improvement category and put them through a structured performance improvement programme. This practise exists for a number of years now. We take action on our bottom-most performers to keep the organisation's efficiencies tight. It is nothing new." he added.
