After the Satyam incident people are personally scared about the future of IT field. Because this situation may come to anyone and strangle their prospects.
In the past 6 months IT field has gone down as much and as fast as it could ever go and IT employees had to live with butterflies in their stomach about the appraisal. (I read in a magazine that IT companies are planning to avoid appraisal, and the management would point out that so many people lost their job in IT sector and you should be happy that we don't expel you and you got a job. Now sathyam had made this weakness very formidable.)
I'm sure this gonna be happening in most of the IT companies. This is the worst time for IT employees. Satyam incident has revealed that there is no job security for IT employees regardless of their designation and experience in the IT sector. This is true and everyone has gotten frightened. Now, who will give their daughter to you, and who will bet that you will be able to repay the house loan, car loan and other loans? The situation is grim.
I would say Sathyam not only destroyed their company it also destroyed the prestige of IT companies all over India, and has wounded the social status of their employees.
And yes, what about Satyam Employees?
Just think about the Sathyam employees who have taken home loan, car loan and other big loans. How they can manage if they don't have a job? How long? 3 months? 6 month? what will they do after that? Even though they may get another job, do you think they will get the same salary as what they were getting in Sathyam.? They can't demand that.even with all their skills and ability. They can only implore now, and accept whatever is offered. Now it's really tough time for Sathyam employees.. I personally feel other IT companies have to give hand for them, but let's see what they do.
(posted by Sai Balki)
Great words this: I would say Sathyam not only destroyed their company it also destroyed the prestige of IT companies all over India, and has wounded the social status of their employees.
ReplyDeleteWhere there was envy before, now people look at youngsters in the IT with some sympathy.
For example my father sent me this sms from a train: "Young boy. Anxious and worried. Searching for something in his laptop. I think he works for Satyam"
the employees can find job elsewhere with their experience.
ReplyDeletewhat about the shareholders who have invested lured by the false figures certified by their auditors.
the govt. must take steps to compensate the shareholders of their purchase value from the amount salvaged from satyam.
Actually did the government ask them to put their money in Satyam?
ReplyDeleteAre the people who made money when they sold their Satyam shares last week willing to give it back?
Like in horse-racing, someone's got to lose if someone's going to gain.
The money that the government has is hard-earned money, every paise came from blood and sweat.
Why should it go to compensate greed?
Let this be a lesson.
People put your money in your friendly neighbourhood business, or in the business of your friends and relatives. Be satisfied with a return of ten percent per annum.
That is the way to go.
Don't have anything to do with professional money-minters.