No relieving letter for Satyam employees

Written by: Super Admin
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Hyderabad, Jan 15: Amid fear of job security Satyam employees are now facing another problem -- 'No relieving letters'. It is learnt from sources that Satyam Computers have said to employees that they will not be given relieving letter if they are planning to quit the ailing company.

Satyam sources said that the company fears that these employees are moving out with the client to new companies. Sources say that majority of the employees are searching for new jobs. All the major job sites are flooded with Satyam employees CV.

The news of Satyam planning to layoff about 10,000 employees to avert the crisis have made the matter worse. But the on-site employees have some relief after the client companies assurance of job security. The clients of Satyam Computers have promised the Satyam employees that if they are laid off by Satyam, the clients will absorb them.

But the employees in India face a different problem and fear. Sources are stating that when some of them are working honestly, most of them are worried about the security of jobs and progress of the company. Many don't feel like working because they will not be paid in Jan and Feb. The recent report of Satyam not paying two month's salary to its employees due to its weak financial status has also left many worried.

Satyam CEO Ramalinga Raju confessed of 7,000 crore fraud on Jan 9 giving the Indian IT sector and Satyam clients a shock.

OneIndia News (With inputs from Agencies)



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