The Hindu : Tamil Nadu / Chennai News : Anxious Satyam employees waiting for clearer picture

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Thursday, Jan 08, 2009
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Tamil Nadu

Tamil Nadu - Chennai

Anxious Satyam employees waiting for clearer picture

Sruthi Krishnan and S. Aishwarya

CHENNAI: “I got to know of it when I saw the television this morning,” said Anand*, a project manager at Satyam, describing what was probably his most startling day at work. “Following that we got a mail of the letter that was filed with the Securities and Exchange Board of India (SEBI),” he said.

“There is definitely a lot of anxiety,” said Devika*, another employee. “We have to wait and see where it goes. Some [employees] have already started floating resumes.” Future employees were also considering other options. Radha*, a 2008 engineering graduate, had been waiting to hear from Satyam about her joining date after receiving her offer letter in 2007. “We don’t think we will be getting a date of joining soon. People who are working there are scared. We haven’t even joined…” she trailed off. Deepa*, a Satyam employee in Australia, was at a meeting when the news was released. As the Australian office was going to close for the day, there was no news forthcoming. She expects the picture would be clear in the morning.

“The worries are natural,” said Siddharth*, an executive at Satyam, “as things are uncertain.” He added that employees need not be panicky as the fundamentals of the company were strong. “We cannot close down in one night. This is not a dot com type of operation without any assets. We have a strong asset-base and strong skill resource base,” he said.

“I have always felt secure at Satyam,” said Anand, “there is a family culture here.” He was confident that the new management team would turn things around.

“We have clients, we have been doing well and I don’t foresee any big problem. We never have had any complaints from clients. What we need is working capital,” he said. “We don’t disown family,” he added, “We will stick on.”

*Name changed on request

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