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120 employees have recently resigned from Satyam
January, 08th 2009

Satyam Computer Services, which is trying hard to cope with the tough times, has lost more employees in the backdrop of the recent developments, say media reports.

According to an NDTV report, over 100 employees have resigned from Satyam and more are planning to quit the troubled ship.

"At least 120 of Satyam's employees from the lower and middle rung management have resigned after the Satyam-Maytas fiasco broke out and as many as 100 more, including the senior level management, are waiting to take a decision after the board meeting expected to take place on January 10," it reported quoting a source.
Meanwhile, DSP Merrill Lynch has terminated all its engagement with Satyam.

In its statement to the stock exchange, Satyam has said, that "the DSP Merrill Lynch terminated its engagement with the Company."

Satyam had hired investment bank DSP Merrill Lynch to review its "strategic options to enhance shareholder value" following the controversy over Maytas deal.

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