Please Read my Post under Part-1 published earlier today before you read this ...
The Consequences :
Erosion of about one crore Rs. of Market value due to fall of Styam shares and the consequent drop in share market.
Total erosion of share value of Stayam share holders including its own unsuspecting employees
Threat of job loss to 53,000 odd employees and three times that no of associate company employees.
Fall of real estate due to fall in purchasing power of IT employees
Non paymentlosses to banks from jobless employees who normally took HUGE loans for Housing and lifestyle.
Drop in IT sector salaries due to easy vaialability of retrenched manpower effecting employees of even other companies.
Delay and crash in plans and Businesses of customers for no fault of theirs.
Loss of faith in Indian IT ethics by International community thereby effecting the IT sector in India as a whole.
Demoralization of large Nos of Engg college students who are getting produced in unrealistic num bers based on extrapolated job Oppertunities
Possible dropping of MAYTAS ( Ulta of SATYAM) deal with AP govt regarding Metrorail and consequent delays in this vital infrastructure projects.
Possible derecognition and fall in business of Price Water House Coopers, their partner in crime
Many more My God...
Wishes :
Hope Indain corporate spirit defends itself valiently and convincingly,.Wish govt tightens laws to avoid recurrance... AND Good wishes to Promoters, Investors, Auditors and Employees as they all are heading for tough times….
