TechTarget

Satyam staff dreams shattered

Thousands of workers at Satyam have had their dreams shattered by the fraudulent activity of the company's former chairman, according...

Thousands of workers at Satyam have had their dreams shattered by the fraudulent activity of the company's former chairman, according to a blog set up by staff at the firm.

Troubleshooter Deepak S Parekh, who has been appointed to the Satyam board by the Indian government, said this week that restoring confidence of the employees was a top priority.

This may be easier said than done. More than 14,000 Satyam workers had their CVs on the web within a day of the news breaking that the company's chairman had been cooking the books.

According to the blog set up by workers at Satyam the $1bn accounting fraud carried out by its former chairman has left staff moral low.

The blog includes a letter to B Ramalinga Raju in which its described the feelings amongst staff at India's fourth largest IT service provider.

The blog says, "53000 of us have started looking a fool in our own eyes for no fault of ours. Many of us have begun our careers and just started contributing to the economy of our parents who have supported our education so far. Many of us have just become spouses or parents. What light in our eyes do the new additions to our families see?"

It also describes how the trust of dedicated workers has been damaged. "Many of us have weeks or months back told the pesky head-hunter no to a discussion about change because we love working here."

Raju has admitted that he had cooked the company's books for several years. The company's survival has been put into question as customers consider their options and the company's cash-flow runs low.

Read the blog in full

CW+

Features

Enjoy the benefits of CW+ membership, learn more and join.

Read more

0 comments

Oldest 

Forgot Password?

No problem! Submit your e-mail address below. We'll send you an email containing your password.

Your password has been sent to:

-ADS BY GOOGLE

SearchCIO

SearchSecurity

SearchNetworking

SearchDataCenter

SearchDataManagement

Close