Satyam Computer Services, one of the major IT companies of India has reportedly asked 30 employees to leave as they fudged the bills. It is not long enough that this happened and now over 200 employees of Satyam got the 'pink slips' recently. Satyam distributed these pink slips soon after it announced the second quarter results. The remaining employees are not sure whether/when they would be called to take the pink slip.
The world economy at this moment seems to be very unstable and such an economic slow down is directing the companies to look after various measures of retrenchment. Is decreasing the head count the first option left to companies? Satyam, however says that this move is not a cost cutting measure and says that this is very normal during the period July - September every year followed by appraisals, where the bottom performers are absorbed into such action plans. Sources inside Satyam also say that once an employee has been identified as a bottom performer, management would try and look for alternatives like allowing time to improve & prove their mettle, relocating the employee to a diff project etc, by discussing with the employees. One of the employee who was recently shown the door says that he was shocked to note that he was being removed on the grounds of his performance whereas he was one of the best performers of few great projects that Satyam handled.
Reacting to the situation, management of Satyam tells us that they are continuously hiring and asks if they had such a requirement then why would they let the experienced professionals go? Is the continuous hiring drive a strategy to be in competition worldwide and cutting down the headcount a strategy to make the share prices float? We will have to wait and see what is the fact and how many more will be counted down.
Those who have been removed now have no other option but to move on & start their job search, all that we can say is be careful in choosing the offer and please do not compromise on the standards of the company and your long term goal for higher pay packages. All the best for your job search!
