Jan 12, 2009 03:34 PM
4211 Views
(Updated Jun 14, 2009 12:01 AM)
Deven: -Have you received the mail, that Satyam Computers do not have enough funds to provide us the monthly salary? That is why; they have created an innovative “Virtual Pool Program”(VPP), where people will not be given any salary for 6 months. They may try to provide at least 3000 bucks per month, provided the company is making some profits.
Fatima: -Arrey, it would have been better, if they could have terminated our jobs with the final settlement, rather than keeping us, as beggars. The Titanic is sinking now. Even Tech Mahindra may also sink with it, I don’t know. Maybe this VPP can prove as the last nail of the Satyam’s Coffin that was created by that fraud and Cheater CEO, Ramalinga Raju.
Arindam: -aah, don’t be so emotional. Even you also know that nobody is going to stay in this company for long. There is no growth in this company, boss. You are on a Titanic, where you are waiting for a life boat or a helicopter. See, they will never directly kick on your back. They will say it indirectly, like this VPP. When media people will ask them, they will say that Satyam has not kicked out any associate for their financial crunch or Ramalinga Raju’s fraud. We have sustained them in the crunch times, but they have resigned on their own.
Gaurav: -On their own? Boss, I received a call from a Senior HR manager of Satyam, who forcefully ordered me to put down my papers, as I am a highly paid resource, whom Satyam cannot keep anymore. Now, if they would have terminated my job, then they have to give some money to me as final settlement. So, they have saved the money and said to the media that the attrition has increased from 12% to 21% in Satyam, but the layoff rate is only 1%. If this is the solution, then for what reason government appointed that board of Directors.
Sushma:- The Congress party just fooled the public. See, the scam happened before the Lok Sabha election 2009. Ramalinga Raju had all illegal connections with the Andhra politicians. If 52, 000 associates lose their job, Hyderabad city is in dilemma and so is the Congress party of Andhra Pradesh. So, they had to take some initiative to safe-guard their vote-banks. Net result, at last, Satyam was acquired by Tech Mahindra. But, the figure showed by Tech Mahindra was very fishy too. Tech Mahindra showed Rs. 58/- per share, whereas a big company like L&T failed to do it. After 3 months, the real skeleton came out. Tech Mahindra do not have enough money to take care of the Satyam employees, which are large in number.
Deven: -Yes, Ramalinga Raju kept on recruiting more people to create fake invoices and also to acquire more projects from customers. Now, that extra recruitment is back-firing the company, because there is not enough fund, which has been shown in the balance sheets. Please don’t go by the Q3 results that have been published in “The Economic Times” on 10th June 2009. Those are all false results. No one has audited that. Maybe, they have given money to ET for publishing all those false results. Frankly speaking, Satyam wants to raise its share price, which is why they have published that news. But the problem is for the Tech Mahindra, who is trying hard about the preferential shares of Satyam; otherwise they will also be in trouble.
Fatima: -What about the announcement of the Government that the board members appointed by them, can now come out of Satyam? Of course, yes, Lok Sabha Election is over. Now, let Satyam die at its own.
Gaurav: -I think that the Tech Mahindra is trying to put their people more in the board members to go for a massive layoff. To safeguard that, the temporary CEO of Satyam came out with this kind of Virtual Pool Program as he also don’t know, when he will be thrown out from the CEO post also, he he he …
Arindam:-So, for senior people, they have given the notice period of 4 months and to others the 6 months to get job in another companies. Surely, “Virtual Pool Program – A Mirage”will surely create a new ‘Satyam desert’.
