NEWS & ADVICE : PERSONAL LOAN
Satyam employees relieved by the takeover
By Vaibhav Aggarwal
Apr 16, 2009
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The takeover of Satyam Computers by Tech Mahindra has relieved the staff members even though they cannot figure out their individual future.

The employees of Pune based offices of Stayam are feeling relieved at the firm's decision of awarding the controlling stake of the company to Mahindras. They believe that this would help the company to witness its past status. "Many clients have continued with us and will now have no reason to worry as they are reassured about the continuity of service," said a Project Manager at a Stayam office in Pune.

However another employee of the firm who is working with the SAP division said there may not have any immediate benefit as Tech Mahindra does not operate in the business areas where Satyam functions. "As such, there may not be any immediate implication for a number of us," she said.

The former Chairman of Nasscom and the Managing Director of Zensar Technologies, Ganesh Natarajan said, "The industry and the country can heave a collective sigh of relief at the end of an important chapter in the Satyam saga. The government, board of directors and the Nasscom have done excellent work in restoring confidence to shareholders, customers and employees. As a result of this work and with mature handling by the new shareholders, I have no doubt that customers, employees and the entire international community will have their faith in India and Indian IT completely restored. It is now important to bring continuity and stability to the company and also ensure that all the perpetrators of the fraud are brought to justice."

Natarajan said that there may also be some job losses at Satyam due to this takeover. "In a few months, a few hundreds or even a few thousands of employees may be found surplus or unsuitable, so we should be ready to see some layoffs in the days to come, though the highly competent ones need not worry," he said.

The Satyam case came in light about four months ago when its founder Ramalinga Raju admitted its fraud in public.

 


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