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Does Satyam have cash to pay salaries?

Beleaguered Satyam  management, struggling to set its house in order, is facing a major challenge to fight rumours and disinformation particularly relating to employees and their salaries.

The day started with a ‘rumour’ by some Satyam employees that there was an internal e-mail that talks about layoffs and uncertainty about salaries over the next two months, but it was later found that there was no such internal communication.

“No such e-mail exists,” a Satyam spokesperson told PTI, adding that because of the uncertainty of the situation there are all kinds of rumours floating. But the management is doing everything in its ability to reach out to its employees and ensure that their future is safe.

Asked if the rumours could also have been generated by comments made by acting CEO Ram Mynampati that though the company had ensured the December salary for its 53,000 strong workforce, liquidity was a cause for concern, she said: “It looks like he may have been misinterpreted.”

Source : Rediff