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Just enough cash for Dec salaries, says Satyam

new delhi: Satyam Computer Services Ltd today said it had just enough cash to give December salaries to its 51,000 employees, but was not sure the money could be paid in January. In his first press conference after taking charge as the outsourcing company’s interim CEO, Ram Mynampati said: “Salaries for D ....Read more

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5 Comments |

Satyam SalariesBy: DVS | Friday , 9 Jan '09 18:26:11 PM Reply | Forward They should device a payment mechanism until the fiasco is resolved. The lower paid and hard working employees should not have to additionally worry of basic expenses. The government should step in to help. One example is to pay a minimum salary with a cap of 30000 to cover expenses. Salaries of the highly paid can be put on hold as they are so called in responsible positions.

Satyam fiascoBy: Dr B Sundara | Friday , 9 Jan '09 10:39:38 AM Reply | Forward It is better the Indian Govt. steps in and takes over the company and entrusts it to some reputed IT firm to run it. Meanwhile, surprise audit of all the corporate houses should be initiated to find out whether such financial irregularities are going on.

??By: Sandeep R. | Friday , 9 Jan '09 10:52:42 AM Reply | Forward please understand the subject matter before you give suggestions.

Satyam fiascoBy: Dr B Sundara | Friday , 9 Jan '09 14:08:40 PM Reply | Forward Well truly I don't understand much how copanies work.But I can certainly feel the fraud committed.Subject matter specialists can suggest apprpriate measures to avoid such frauds in future.

Suject matter is fraudBy: Raj | Friday , 9 Jan '09 21:51:54 PM Reply | Forward Sndara, good resposne to Sandeep. Subject matter is fraud by most companies to sell more shares at a higher rate.

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