NEW DELHI - Revenues of India's Satyam Computer Services are in a downward slope, but the fraud-hit outsourcer was not looking at layoffs to tide over the slowdown, its chairman said on Friday. The company discussed cost control measures, including wage cuts, at its board meeting, Kiran Karnik told reporters after the meeting.
Last month, Indian outsourcer Tech Mahindra Ltd (TEML.BO) won an auction for a controlling stake in New York-listed Satyam (SAY.N). Satyam's founder and former chairman shocked investors in January by saying profits had been overstated for years, putting in doubt the survival of a company once ranked as India's fourth-largest software services exporter. [ID:nBOM394323] (Reporting by Devidutta Tripathy; Editing by John Mair)