The Hindu Business Line : Satyam staff: The smiles are back, nervously

Hyderabad, Jan. 13 After a week of shock, scepticism and anxiety, the smiles are back on the faces of a lot of Satyamites, albeit with a bit of nervousness.

The assurances given by the new board, especially the statement made by Mr Deepak Parekh, Chairman, HDFC, that the company had receivables due, has brought some hope to associates as they expect to receive the January salary on time.

“The announcement regarding the appointment of a new CEO and CFO from outside has also brought in fresh vigour and enthusiasm among the associates,” Rahul, who works at the Madhapur campus, told Business Line here on Tuesday.

Shreya, who works at the company’s City Centre building, said that though it might take another couple of months before the dust finally settles, the increase in the price of the company’s stock at least showed that investors are reposing faith in the company.

Quality vs cost

A former employee who was with Satyam for 11 years, who did not wish to be named, said that when he joined the company in 1995, the people recruited were far more skilled than those who joined the company in the last few years.

With a new management in place, things might look brighter for the company, he said. He also expects it to win more contracts on quality basis rather than the cost factor.

Some associates, however, expressed concern about their job prospects, while a couple of others decided to stay put and wait patiently for things to unfold.

With the kites decorating most of the Hyderabad sky, Satyamites are also hoping that the colour in their lives comes back without the thread getting snapped, at least on the job front.