Mastek staff on ‘virtual bench’

Mumbai based Mastek Ltd has put about 10 per cent of its total employee base on a ‘virtual bench’ for up to 12 months, a move which will help it stay profitable in the current economic downturn.
The 425 employees who have been identified would receive a monthly allowance for up to 12 months depending on their experience and qualification.
Alternatively, the 425 employees – who are either trainees or junior employees – have been given the option of leaving the mid-sized IT company immediately with a compensation package. As on December 31, 2008, Mastek had 4,243 employees, of whom about 27 per cent were based on-site while the rest were at various offshore locations. Mastek, which follows a July-June calendar, has given guidance of net profit at Rs 32-33 crore for the March quarter.