MphasiS may cut pay packet; structural revamp ahead

Come January, employees of IT services company MphasiS could be in for an off-schedule New Year surprise -- a 20-40 per cent salary cut across the board. This could be on the heels of a third party employee verification program presently being carried out at the company. Industry and company sources said that while a pay cut of roughly 20 per cent is planned across the board at MphasiS, some senior level employees could suffer pay cuts as high as 40-45 per cent.

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