satyam

Satyam secured projects worth $79 million on its second quarter 09 in the Middle East and North Africa (MENA) regions. The BSE filling by Satyam also states that it is looking at doubling its business in these regions in the next 1.5 – 2.0 years. Read the full story

While you were reading the news that Mahindra Satyam has secured contracts worth $79 million only for the second quarter in North Africa and Middle East regions, employees at Satyam were reading quite a different news in their mailboxes. Read the full story

The already tainted Satyam has now placed another 500 employees in a so called “corporate reserve” which is nothing else but bench. This move has further sparked various rumors like possibility of senior-level employees leaving Satyam.

All associates in the sales, operations management, delivery integration, relationships, program management, presales and solutions framework will be now placed in the corporate reserve. These verticals belong to the Enterprise Business Competency (EBS) at Satyam. The company has also mentioned that these resources will remain in reserve till further allocations are informed.

The Chief Marketing Officer, T Hari who is also the Chief People’s Officer mentioned, “With a transition to the new organizational design, some of the erstwhile units like vertical business units and horizontal competency units will cease to exist.”. He further added, “Employees who have not been allocated any portfolio yet in the new organization design will be placed in the unit called corporate reserve.”

It should be noted that Mahindra Satyam had already placed 8,000 employees in a similar situation terming it as “Virtual Pool” yet another name coined for the more simple word BENCH.

A “True Lie” infact. Ironically, Satyam means truth. Chairman and promoter Ramalinga Raju confessed that the Hyderabad based Satyam Computers has been lying to its shareholders, employees and the entire world for many years. Regarded as India’s largest ever corporate fraud, it is estimated that the scam is more than 7,000 crore.

Considered to be the fourth largest [or was the fourth largest] IT company after TCS, Infosys and Wipro, Satyam has been cheating its shareholders, employees and clients by manipulating the revenue and profit sheets and thus boosting cash inflows. Satyam has also reportedly shown interest income when actually nothing existed. Read the full story

Satyam Computers, one of the leading software companies in India has joined the list of companies who are in a rapid down-sizing due to inadequate projects.

Satyam has reportedly shown the pink slip to 400 engineers and associates in Hyderabad, Visakhapatnam and Pune.

Most of the employees who were sent off had 2 to 5 years of experience. The employees in a state of shock were aware that things were not so good recently. Many of its employees were in bench for months as Satyam fell short of projects.

Following this, Satyam had been requesting [well, you can even say forcing] employees to get into a contract instead of a permanent employee status in the name of performance issues. Quite obviously, employees did not prefer this option.

After preparing enough reasons against its employees, Satyam showed the way home to 400 employees and associates in its so called ‘S’ band. Employees who have 2 to 5 year experience fall under ‘S’ band in Satyam.

Joining the league of layoff companies, Global Head, HR came up with the same boring answer. He stated to The Hindu that ‘we do this as a matter of routine employee evaluation and development.” He also added one that we are quite used to hearing recently, “We are to hire 12,000 to 15,000 people for 2008-2009″. Can you please stop joking?

Were there performance issues only with the ‘S’ band? Why did Satyam send such a large number of employees only this year? Does that mean they did not have any performance issues last year? If you are going to send off 400 experienced employees and recruit 12,000 more, does that mean that these 400 cannot perform or are good for nothing? Or can we say that you don’t have suitable projects to see their performances?

Can’t these HR come up with a different answer? Obviously, even a dummy will know the real reason. “INADEQUATE PROJECTS”

Internet has been disrupted in India, Egypt and Gulf Arab countries. This is due to a ship accidently cutting down on the international undersea cable network on Wednesday near Alexandria, in Egypt’s north coast.

It is estimated that it could take several days to restore the network and as much as 60% of the Internet users in India could be affected.

Though the extent of impact cannot be determined on the IT industry, Egypt’s telecom ministry said 70% of the country’s Internet network is down.

Rajesh Chharia, president of the Internet Service Providers’ Association of India, informed Reuters that “There has been a 50 to 60% cut in bandwidth.” Read the full story