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3500 Satyam employees resign in one month
By siliconindia   |   Tuesday, 17 March 2009, 16:03 IST   |    10 Comments
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3500 Satyam employees resign in one month
Hyderabad: While the scam-gripped IT major Satyam is still on the pursuit for stability, the company is witnessing a decline in employee confidence. About 3,500 employees have quit the firm, over the last one month. "If earlier, people would get jobs within days, now it takes at least a couple of months. The spurt in the number of people leaving could be because jobs are materializing now," an associate in the company told The Times of India. The firm, which is in the midst of the bidding process to select a strategic investor, had 47,570 employees in employee address book on January 9, two days after Ramalinga Raju had admitted to his fraud. On March 16, however, employee numbers slipped to 44,130. The company records showed the number of employees to be 47,570 on 9th January, which slipped to 44,130 employees on March 16th. The attrition consist of all kinds of employees whether on bench or on projects. For the much needed stability, the employees have joined the rival firms or even their clients. "I had started looking out in January itself, after Raju made his confession. But, nothing seemed to be working out at that time. I finally bagged a good offer about 10 days ago," said a U.S.-based associate, who is now serving his notice period. It is also pin-pointed that though the employees at the initial stage, after the scam was uncovered, had to bear with consequences like salary cuts and job loss, the situation has improved considerably in the present time. The hike is in tune of 20 to 30 percent. However, many do not consider this rate of attrition to be worrisome unless the people were involved in important projects.

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