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Satyam staff jittery about their future
March 14, 2009 04:09 IST
Though four companies have formally announced that they have filed an expression of interest to acquire a majority stake in troubled Satyam Computer Services [Get Quote], several employees (or associates as they are termed) are jittery about their future.
On one hand, they feel the sale will help in restore the firm's past glory. On the other, they fear that life would be tougher in the new company. Notwithstanding management assurances that existing staff won't be retrenched after the takeover, several employees are understood to be hunting for openings elsewhere.
Satyam's chief executive officer, A S Murty, according to a team leader, has assured no dismissals for at least another six months. "However, insecurity continues, as rumours persist that somebody or other is resigning and an internal list of people to be removed is being prepared," she says.
In some cases, the associates are finding employment with the client company they are now working with. For instance, Satyam handled a project for Bank of America and some people who worked on the project are now part of BoA and have moved to the bank's Hitec City campus. There was a hike of about 15 per cent in their pay, compared to what Satyam gave while at BoA. "It is about continuity of work,'' says one associate who is parting with Satyam. He decided after much thinking.
Another associate informs about feelers from several colleagues about trying for a job in other companies. "There are opportunities for us, but we are waiting to see how the company will shape up in the days to come,'' he says, adding that hunting for opportunities outside is not seen as a sin. It all boils down to new clients coming and old clients renewing their contracts with Satyam. "The jobs of those in the delivery segment will stay,'' opines another employee.