Hope has replaced despair and the glaze on the employees' faces has almost disappeared.
Within a week of Tech Mahindra [ Get Quote ] emerging the successful bidder for Satyam [ Get Quote ] and depositing the entire amount in two escrow accounts on Tuesday, Satyam employees appear in a jubilant mood. Even those who thought job losses were inevitable now see growth.
Tech Mahindra depositing the amount for acquiring the stake in Satyam has given assurance to the employees. "This is swift and concrete action. We are now sure our jobs are protected," said an employee of Satyam Computer Services.
For Varun, another employee, what is satisfying is the assurance from Anand Mahindra that Satyam will be run as an independent entity, at least for now. "The brand Satyam is very dear to us. It makes us immensely happy that we will continue to work the way we have worked so far," he said.
According to another employee, "People saw us as losers after company founder Ramalinga Raju [ Images ] admitted to fraud in January. Every day was a challenge. The morale was low as many were moving out or planning to quit. But things will change now," he said.
Team dynamics were hit due to people moving to other companies and the onus was on a few people to do the balancing act, he added.
Business development teams are the happiest. "Business was eroding as our clients were moving out and new clients were not coming. With Tech Mahindra's effort, we hope business development will be the priority," said a staffer.