Business Daily from THE HINDU group of publications
Friday, Feb 06, 2009
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Business Daily from THE HINDU group of publications Friday, Feb 06, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Software Info-Tech - Human Resources Web Extras - Employment 59 Mastek ‘benched’ staff to quit Our Bureau Mumbai, Feb. 5 Fifty-nine employees of Mastek Ltd have decided to leave the company three days after the IT firm ‘benched’ 10 per cent of its staff. “We have received communication from every one of the 425 employees who were to be put on the virtual bench. Over 85 per cent of them have decided to continue with the company,” a company spokesperson said here on Thursday. The Mastek scrip was down by 2.1 per cent to close at Rs 137.6 on the BSE today
On Monday, Mastek had informed 425 of its employees that they have been put on a virtual bench for up to the next 12 months. They would be paid only 10 per cent of their ‘fair severance compensation’ spread over the 12-month period. The employees were also given the option of immediately leaving the mid-sized company with a compensation package. For employees who have decided to stay back, various internal departments of Mastek are working on plans to provide training and development programmes, the spokesperson said. As on December 31, 2008, Mastek had a headcount of 4,243. Mastek to put 10% of staff on ‘virtual bench’ Smaller IT vendors feel the pinch of global meltdown More Stories on : Software | Human Resources | Employment
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