Satyam suspends capex, to move staff to low-cost countries
Originally reported on Moneycontrol
AS Murthy, CEO of Satyam Computer Services, wrote to the company’s employees to announce a number of measures, in a bid to clamp down on costs.
The tech firm has been reeling under an acute cash crunch after the admission of the Rs 7,000-crore scam by its founder and erstwhile chief B Ramalinga Raju.
1. Pre-sales, delivery support and operations support personnel to be located in low cost countries
2. All capital expansion plans of the company, unless required to meet customer deliveries to be put on hold.
3. All units to reduce domestic and international travel by 60%. Business class travel for executives to be suspended until further notice.
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