Satyam announces cost cutting measures

February 19th, 2009 - 2:52 pm ICT by ANI  

Hyderabad, Feb 18 (ANI): Hyderabad based Satyam Computers on Thursday announced various cost cutting measures to support the scam hit company in times of global economic meltdown.
Addressing Satyam employees, CEO A S Murthy said: “As a policy, the pre-sales, solution architect, delivery and operational support personnel will be located in the low-cost countries. All units have to sharply reduce (by more than 60 per cent) non-billable domestic and international travel.”
The company had reallocated its onsite support staff and has put a lid on all the expenses on external trading as well as advertising and marketing.
Murthy further declared that all capital expenditures including renewal of laptops, office renovation, unless urgently required to meet customer deliveries, are suspended till further notice.
The company board has also decided to terminate lease of several rented premises to provide a sizeable saving.
Murthy clarified that these measures were necessitated not just because of Satyam’’s bad financial situation, but are also relevant due to the larger economic slowdown. (ANI)

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |