Yeah, I know, its been the hottest and most-boiling topic of all discussions last 3 days now. How, Why and What is all clear, except - where from here. What bothers me?
Well, having been with Satyam (and having considered working there one of the best times of all my work-experiences...) I feel, its a very grave situation. More importantly, my hubby is with Satyam. So, any stone-hurled at Satyam, causes concern to both of us.
No doubt, like everyone else, we have been shell-shocked with the startling revelations and the aftermath has just begun. Last night (back then when saga unfolded), we watched a channel where a student who had an offer-letter from Satyam was wondering about his chances. :-( I was thinking, about those who have put in their hard-work/time/energy/effort/life for long (including hubby).... Nah, it won't be the truth if I said, "am not worried". I know, its becoming more or less an economic imbalance and somehow or the other, some solution (probably merger, acquisition, take-over....call it what you may) - will take care of some part of the problem. What then? Obviously, not all 52000 odd employees are going to be absorbed (those not on bench are now on same edgy feeling as those on bench)... and not all existing clients are going to be able
to keep the faith. In what? :-(
Well, what's in store will be clear as time passes. As some channels reported, most of the "let me see if I can get a job before I am asked to leave mine" mind-sets have already fuelled the job portals. What that can do in reverse is - to enable offers much lesser than achievments already made (in terms of pay packages - please don't forget the EMIs!!!!) or make a "parking lot" of the over-available lot while things simmer.
As it is, with recession in, there was an insecurity and people were beginning to "cut down" on extras. Now, with a pool of employable-talents waiting to be made-to-feel-secured, what is to be expected?...
So long as the work-layer continues at Satyam offices, something will come through soon. Blames and excuses, names and games will continue to flood the channels...but who gets impacted to what degree, remains to be seen. Until then, there's only hope of a better tomorrow...
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Jan13: Govt has set its own board, to iron out issues at Satyam. My hubby's client has visited them - confidence building. Some signs of improvement...
Recently: Govt. first declared (atleast some channels reported that) it would support Satyam with a Bailout for 2000 Cr. (that might suffice salaries for employees for next 4 months).
Now, that step has been retraced as Govt. adds more board members and re-assessing Satyam; there may be manageable recievables of 1700 Cr by Satyam. PWC says it 'trusted' Satyam's paperwork...
Things may improve. Not the right time for market to poach employees or clients, so everyone is waiting and watching ........
20Feb09
There was speculation about Jan salaries, thankfully, those came through. One hurdle crossed - by the new management in charge now. Doubts exist still in the minds of all, irrespective of the open-communication to some extent within the organization. Everyone is hoping for stability and security to replace the "what-may-happen-is-a-question" feeling.
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Perfect article - satyam and lies - what a prespective!http://ibnlive.in.com/blogs/ahmedalishaik/2200/53151/satyam-scam--politics-media--lies.html
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