×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

59 employees opt to leave Mastek

59 employees opt to leave Mastek
PTI
Comment E-mail Print Share
First Published: Thu, Feb 05 2009. 09 02 PM IST
Updated: Thu, Feb 05 2009. 09 02 PM IST
Mumbai: Around 59 employees of IT service provider Mastek have opted to leave the company, three days after they were shifted to “virtual bench” because of slowdown.
On Monday, Mastek announced that it is putting 425 employees on virtual bench for the next 12 months following a slowdown in demand.
The company had given two days to the 425 employees on virtual bench, the option of leaving the organisation.
“Over 85% of the 425 employees have chosen the option of the virtual bench. They will continue to be employees of the company and continue to receive a lower compensation for a period of 12 months,” a Mastek spokesperson said.
“We will be investing in training and supporting them during this period,” the spokesperson said.
Mastek has an employee strength of 4,000 in Mumbai, Pune and Chennai. Of the 425, half of them are trainees and the rest junior staff.
Employees on the virtual bench would be entitled to a monthly allowance. They would get 120% of their “fair severance compensation” spread over a period of 12 months, the spokesperson said.
The company has said as soon as situation improves, people from virtual bench would be taken back. “As and when business situation improves we will bring them back from the virtual bench to full employment,” the spokesperson said.
Comment E-mail Print Share
First Published: Thu, Feb 05 2009. 09 02 PM IST
More Topics: Mastek | IT | Slowdown | Employees | Virtual bench |