BUSINESS

Satyam staff assured of salaries up to March

A. Saye Sekhar

Video recording of the directors’ addresses could not be webcast on Friday

HYDERABAD: Employees heaved a sigh of relief with the assurance by the board of directors about their salaries up to March-end. But the much-publicised video recording of the directors’ addresses could not be sent to the associates through webcast on Friday evening, as planned.

It was sent to the nearly 5,000-odd associates working in the U.S. on Friday. But it could not be posted on the web to the employees working in India and countries other than the U.S. due to technical problems. Since the associates in India are on a long weekend (Monday is a holiday due to Republic Day), the video recording would now be posted only on Tuesday.

The gist of the addresses by the directors, who spoke for two to three minutes each in the 15-minute recording, was that they were there to fix the problem.

There was government backing to all their efforts in turning around the company. Complimenting the associates for their “terrific support”, they said that they had spoken to the customers and secured assurances about business continuity.

Meanwhile, employees, who expected that a new CEO would be named on Friday, felt disappointed. “When the Government took less than 48 hours to appoint eminent people as directors, why can’t they finalise the CEO’s name,” said a senior project manager to whom 120 associates report.

At least one million operations by Satyamites a day alone could keep a few key clients keep their businesses afloat.

Transition of project was not only cumbersome, but irksome too even for the customers, said another project manager, who is privy to the financials of his project.

He firmly believes Raju’s claim that he had inflated profits might not be true. “This company has 185 Fortune 500 clients. This is true. I know how much of receivables can the project I am leading fetch. The investigating agencies must bring out the truth,” he said seeking anonymity.

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