GE extends Mah Satyam's multi-billion dollar order by 3 yrs

GE has extended its multi-million dollar contract with Mahindra Satyam by three years from January 2010. It will cater to application development and engineering services.

Commenting on the order, Arvind Malhotra, Global Account Executive of Mahindra Satyam said, ?The contract will contain the same kind of work, basically ERP implementation, application support and development and they have added engineering services and BPO services. So, this will give us an opportunity to expand our service portfolio.?

Commenting on the whether the company had given any price discounts to retail GE contract, he said, ?Actually this time GE negotiated the contract not on price but on some other parameters like global delivery capability, maturity of our process and some other elements like that.?

After reinstating the variable compensation for its employees, Mahindra Satyam has now kicked off its promotion cycle. Promoted employees have also been given marginal pay hikes.

Mahindra Satyam's turnaround plan may take a while. But employees may have some reason to cheer. Earlier this month, Mahindra Satyam announced that it was reinstating the variable compensation given to employees, which had been withdrawn after the scam. The company is promoting junior and senior management employees. It is also offering marginal pay hikes to those promoted. When contacted, a spokesperson confirmed the news. He said, "Associates have been promoted across levels based on their performance. This move is a recognition of their commitment and dedication to the organisation."

Sources say that the pay hikes given to promoted employees is only marginal. Hike in the basic component of the salary will take time to be effected.