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Satyam staff swing between hope & hopelessness
January 08, 2009 02:01 IST
It was an unusual sight at Satyam's [Get Quote] headquarters in Hitec City on Wednesday. The otherwise lively campus wore a grim and sombre look with high security all around.
Coverage: The Satyam Fiasco
The only activity witnessed was outside the campus where the media men -- both print and TV -- were parked in full strength hoping to catch a glimpse of the chairman, who reportedly reached office in the morning and announced his resignation from there.
"We are tense after hearing about the developments in the company. Though the company has taken up an image-building exercise in the past few day, the reality today is in quite contrast. The chairman has been sending personal mails to all of us assuring things would be on track shortly. But what we see is quite different," said an employee.
The recent happenings at the company have dented the confidence of the employees without doubt.
They maintain that the management didn't bother clarifying matters when independent directors resigned from Satyam and not forthcoming on the present situation after Raju's resignation. Some Satyam employees were shocked to see Ramalinga Raju owning up to committing fraud.
He admitted, "No one was ruling out the possibility of Satyam clients taking their business elsewhere."
The media, which got updates like the Andhra government announcing a CB-CID probe on the issue, passed them on to the employees coming in contact with them. The employees, too, shied away, "We know what is happening in the company. You will learn in the evening."
Even as the media tried to question them about the revelations to Sebi, they said they were bound by 'ethics' to not discuss internal matters with the media.
Some are even banking on the projects that are to be renewed next month.
Venkat Reddy, who till recently worked on the DSP Merrill Lynch project at the company's Bahadurpally campus, only hopes that the recent developments will not trigger a job loss at Satyam.
Amid all these, there are also those who are still keeping their faith.
In the melee, some of the calls scheduled for Wednesday were cancelled. The 'Spirit of Satyam', a confidence boosting measure by the company scheduled for the day, was called off after the day's developments.
Meanwhile, three shareholders too came to the Satyam office in Hyderabad and tried to barge into the campus. However, private security guards, armed with batons, prevented them from entering. The investors then raised slogans demanding the management to come out and give a reply to them on the loss of share value.
(Some names have been changed to protect the identity of the employees)
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