While you were reading the news that Mahindra Satyam has secured contracts worth $79 million only for the second quarter in North Africa and Middle East regions, employees at Satyam were reading quite a different news in their mailboxes. (more…)
Tag Archives | pink slip
Mahindra Satyam places 500 associates on Bench
The already tainted Satyam has now placed another 500 employees in a so called “corporate reserve” which is nothing else but bench. This move has further sparked various rumors like possibility of senior-level employees leaving Satyam. All associates in the sales, operations management, delivery integration, relationships, program management, presales and solutions framework will be now […]
Share List
Mynampati, Interim CEO Tries Raising Morale
Dear colleagues, I write this mail to update you on some critical Board and Leadership level changes in our company, effective immediately. A series of extremely unfortunate events led to this, which I am sure you have seen covered in the media over the past few hours. A SWAT team consisting of senior leaders has […]
Share List
Raju’s Letter to Satyam Board
Dear Board Members, It is with deep regret, and tremendous burden that I am carrying on my conscience, that I would like to bring the following facts to your notice: 1. The Balance Sheet carries as of September 30, 2008: a. Inflated (non-existent) cash and bank balances of Rs. 5,040 crore (as against Rs. 5361 […]
Share List
Satyam a Lie
A “True Lie” infact. Ironically, Satyam means truth. Chairman and promoter Ramalinga Raju confessed that the Hyderabad based Satyam Computers has been lying to its shareholders, employees and the entire world for many years. Regarded as India’s largest ever corporate fraud, it is estimated that the scam is more than 7,000 crore. Considered to be […]
Share List
Wipro Forces Engineers to Join BPO
Things are moving from bad to worse! It’s time parents lose their pride that they made their kids an engineer. After all these engineers who paid heavy college donations and spent their teen life as a book worm end up in a BPO. And all that you need to join a BPO is good communication […]
Share List
Its L&T Infotech now on Job Cuts
Massive job cuts in the name of reorganizing and handful of recruitments to coverup the decrease in revenue has now become a everyday story. L&T Infotech, the country’s largest engineering company has started requesting employees to resign across its Pune, Chennai and Mumbai centers. It is surprising to know that L&T Infotech even with most […]
Share List
It’s now HP’s Turn! 24,600 Employees to be sacked
HP has announced that it would be eliminating 24,600 of its employees. HP, in one of its Security Analyst Meetings stated that is a part of its global restructuring plans. Many companies in the software, ITES or the EDS industry have been in a ramp down spree recently owing to inadequate projects, global slowdown and […]
Share List