Satyam restores variable pay of all employees

HYDERABAD, INDIA: Mahindra Satyam, the new brand identity of Satyam Computer Services, announced on Tuesday that it has decided to restore variable pay for all employees of the organization.

This portion was suspended in April this year following the financial scandal that saw the shares as well as the revenue of the company nosedive.

Other reinstated benefits include staff welfare allowance every quarter, performance-based ESOPs for middle and senior level associates and service anniversary programs, it said a filing with the Bombay Stock Exchange.

“We owe our success to the unprecedented commitment to delivery excellence and support from our associates. This has been vital to our recovery. As we journey through this path towards total revival and growth, this is an expression of our gratitude to our associates,” said T Hari, chief people officer of Mahindra Satyam.

Earlier this week, Satyam board had approved the allotment of 1,02,566 equity shares under the company's stock option plan.