Patni layoff compensation will be generous, Jeya Kumar to get 1 year's salary: Phaneesh
Friday, 13th May 2011
iGate Patni has a chest of 14 million dollars to compensate outgoing employers. Phaneesh Murthy says, "there will be big severance packages". and cites the example of Jeya Kumar, who is exiting with a year's salary and stock options. But not every one may be as lucky.
Phaneesh says compensation will depend on the contract, which varies from person to person. But it will be generous and include cash and
non-cash components, he assures. Non-cash components will be bigger as it will not impact the company, says Phaneesh.
Publication : Business Standard