Satyam Employees Struggle Amid Financial Crisis

Satyam Computer Services, once a beloved Indian outsourcing company, has become a synonym for corporate scandal after its former chairman, Ramalinga Raju, admitted to financial fraud. The aftermath has left thousands of employees uncertain about their future. Amidst the chaos, Satyam employees are facing emotional trauma, and many are struggling to find new jobs. The ongoing recession has made it even more challenging for them to negotiate salaries and job roles.

Key Takeaways:

Around 3,500 Satyam professionals are employed in its back office division, where many are worried about their future due to the company's financial crisis.
Satyam employees, like Abhishek Jha, are finding it difficult to negotiate salaries and designations while exploring job opportunities with other companies.
Many employees are questioning Satyam's decision to have a top-heavy organisational structure, which may have contributed to the current financial crisis.
Over 400 Satyam professionals are stranded in Bloomington, Illinois, US, after State Farm canceled its multi-year contract with Satyam.
Some Satyam employees are facing uncertainty about their work permits, with many fearing they may have to return to India.
Unites India general secretary Karthik Shekhar's organisation has received membership requests from over 1,700 Satyam employees this month alone.

Statistics:

Satyam has around 200 professionals in Japan to serve customers such as Nissan.
State Farm Companies canceled its multi-year contract with Satyam last week, affecting over 400 Satyam professionals in the US.
Unites India general secretary Karthik Shekhar's organisation has received membership requests from over 1,700 Satyam employees this month alone.

Sources:

Economic Times
State Farm Companies
Unites India