13,000 employees quit fraud-hit Satyam

Posted By: Staff
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Hyderabad, Apr 2: Media reports suggest that as many as 13,000 employees quit the fraud hit Satyam Computers in Mar alone. The Satyam workforce stood at 40,000 by the end of Mar, down from 53,000 at the start of the year.

The reports comes amidst Satyam's government-appointed board looks for a buyer, to take a 51-pc in the company to induce much-needed funds. Most of the employees who quit the company were either poached by clients or jointed the rivals.

One Wednesday, Apr 1 there were reports of about 300 Satyam employees joining Bank of America (BoA). Adding to the woes United States based iGate withdraw from bidding, citing client and staff losses at Satyam. Earlier Spice group one of the key bidders withdraw temporarily, complaining that the bidding process was not transparent.

Satyam is struggling for survival and to pay salary to the employees after Ex-CEO Ramalinga Raju disclosed 7,000 cr fraud.

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