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According to sources and insider details, about 12,000 employees of Satyam will be handed the pink slip. This comes just a day before election counting begins. Almost all the bench force of Satyam will end up loosing their jobs. A blog on Satyam, Satya of Satyam writes , Sources inside the company have stated that 15th March has been fixed as the date for laying off a lot of people from Satyam. A lot of the top managers and the staff who has been on bench will be given sabbaticals. This means that they probably will be getting just their basic salary. Wipro has already implemented the same for their "Benched" employees. A lot of the top brass will also be replaced by Tech Mahindra staff, it is believed. Experts have apprehensions on this because they say that the true strength of Satyam lies in delivering complex business. The outcome of this layoff is going to affect the whole IT industry, including growth prospects of freshers in other IT companies. A leading IT company ha...

Success @ satyam took a new definition in 2009. I am perplexed about the reason due to which the fraud was committed by Ramalinga Raju. Lets track its growth story. 1987 - Incorporated as private limited company 1991- Offshore software project with John Deere & Co.— Satyam’s first Fortune 500 customer—announced - Recognized as a public limited company; debuts on the Bombay Stock Exchange (BSE) - IPO oversubscribed by 17 times 1993- Awarded ISO 9001 Certification 1999- Assessed at SEI CMM® Level 5 - Satyam Infoway (Sify) becomes the first Indian Internet company listed on NASDAQ - Presence established in 30 countries 2000- Associate count reaches 10,000 - Satyam receives National HRD Award from Indian government - Dataquest names Ramalinga Raju "IT Man of the Year" 2001- Satyam becomes world’s first ISO 9001:2000 company to be certified by BVQI - Listed on the NYSE (SAY) 2002- Satyam BPO launched in Hyderabad 2005- Largest gl...

There have been varying reactions by different sects after R Raju confessed his fraud. I remember when Satyam had come to visit my campus they had asked for Rs 2 lakh as security bond. Fortunately most of my batch mates did not join, else they might have lost the money. Amongst all the companies that came to my college, CSC and Infosys were preferred by most students. As freshers initially we have a tendency to just get a job, but looking at the current scenario I think all job seekers need to be aware of the company they join. One of my friends who unfortunately joined the group of 53K satyamites feels humiliated to be a part of the company. But there have been others who have criticized other IT firms who have stopped themselves from hiring people from the tainted company. One such letter in the ET says Hello Mr Mohandas Pai, Don't degrade Satyam associates to such an extent...Though there are things which have very seriously gone wrong at the higher management level we Satyamit...

A blog Say Satyam has come up with a description, which reads " Yes, we know you read the newspapers. Now read us. " I was hooked on to NDTV after the news of the arrest of Ramalinga Raju broke in. Checking all the speculation being done on television about the imprisonment of Ramlinga Raju and his associates there is a reasonable evidence from the Ramalinga's letter to believe our media this time. The government has dissolved the board of directors of satyam and will form a 10 member independent board. The whole issue does not seem to be a black and white case even after Raju's letter. It is reasonable to believe considering the political clout of Ramalinga Raju that the reality could be murkier. The contradicting thing is that section 120B,409,420,468,471 of the Indian penal code have been imposed on Mr R Raju. The constitution of the 10 member "reputed" board according to PC Gupta (Min of corp affairs) could reveal more. Related Satyam Scam Ramalinga Raj...

Links related to Satyam fraud and scandal ( I will be updating this section, so if you read/wrote an article worth mentioning under Satyam Scandal category contact me (with URL/Your name) to include it in this list ) *New The Satyam Scandal The Seeds Of The Satyam Scandal Satyam disaster: Experts examine the remains Rs 8,000 cr fraud hits Satyam; Raju may get 7-yr jail SEBI reviewing options on Satyam Satyam fraud puts auditors' role under scanner Raju, directors could face 10-yr jail Letter to the board of Directors of Satyam Computer Services Ltd by Ramalinga Raju The world's biggest frauds The losses you see are only the losses you're allowed to see! Satyam campus wears a grim look Contributors Aneesh Rajiv Prakash Suresh Smita Special thanks to Prakash for giving the suggestion of community link building.

Ramalinga Raju the ex-chairman of Satyam after having confessed of fraud will need divine intervention to save himself. The last ditch attempt to acquire Maytas to fill in the fictitious assets with real ones has gone horribly wrong. He has precisely summed up his situation in his letter by writing " It was like riding a tiger,not knowing how to get off without being eaten ".