Satyam Computer Services cuts variable pay of employees

Satyam Computer Services cuts variable pay of employees

Satyam Computer Services has announced that they are cutting the variable pay of its staff.

This step is part of the company’s ongoing ‘cost rationalization’ exercise.

Satyam is currently recovering from a major fraud by its former CEO that was discovered just a couple of weeks ago.

It is under a brand new management appointed by the Indian government which is trying to fix the company’s reputation in the market.

A.S. Murty, Chief Executive Officer of Satyam said in a statement that the associates would now be paid only the minimum guaranteed amount of 25 per cent of the variable pay for the third and fourth quarters of 2008-09.