Satyam has 10,000 excess staff: Tech Mahindra

Satyam Computer has 10,000 excess employees in its 40,000-strong headcount, its new owner Tech Mahindra said on Friday.

"Satyam has 10,000 excess manpower. It has close to 40,000 employees. We are looking at least painful ways to take care of this issue," Tech Mahindra CEO Vineet Nayyar told reporters after a meeting all board members.

On other hand, Satyam Board chairman Kiran Karnik said, "We are not looking at layoffs. But we are looking at the ways on how to mange the cost, handle people and meet the challenges to the bottom line."

Last month, Tech Mahindra had acquired 51 per cent stake in the Hyderabad-based company for Rs 2,990 crore through a transparent auction.