Employees heave a sigh of relief | business | Hindustan Times
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Employees heave a sigh of relief

The expected takeover of Satyam Computer by Tech Mahindra has come as a breath air for employees of the fraud-mauled company in a year that has seen the tumult of a global meltdown compounded by the crisis in their company. Ruchi Hajela & Sandeep Singh report.

business Updated: Apr 13, 2009 23:03 IST

The expected takeover of Satyam Computer by Tech Mahindra has come as a breath air for employees of the fraud-mauled company in a year that has seen the tumult of a global meltdown compounded by the crisis in their company. The rescue by a respected corporate house, the Mahindras, is a clear relief-giver.

“We are happy that Tech Mahindra has come forward to partner with Satyam. Earlier, we were anxious,” said Shri Ram, a software engineer at Satyam’s Chennai office.

“It is a welcome step and takes away a lot of uncertainty and our associates have welcomed it too,” SV Krishnan, global human resources head at Satyam Computers told Hindustan Times.

“We anticipate official discussions between the two companies to start early next week.”

Satyam’s 48,000 employees would see stability coming in and would see the apprehension on their jobs continuity fading, say market experts.

“The deal is good especially from the employees point of view,” said Gajendra Nagpal, CEO, Unicon Investment Solutions.

“IT is a human resource oriented business and it’s good for them.”

Even as the deal is through, the campus students who had been given offer letters by Satyam and were to join before March 2009 might still have to wait as they have not yet received their joining letters.