Satyam fiasco - One year anniversary

No bombs were dropped, no guns fired, armies were not sent to combat, capture and imprison, but a mere confession made 50,000 lives and their families sleepless, anxious, and brought them to street. Some blamed the CEO, same blamed the Government, some blamed the corrupt politicians, some blamed their bosses, and finally some blamed their fate. But justice seems elusive. Wounds have not fully healed, tear glands are empty while brains are low on dopamine and for many recovery is still faraway destination. Satyam ran the 108 service for public, but when it came to employees emergency there was no 108.

Today is the first anniversary of Satyam fiasco and only 50% of the original head count (28,000) have survived and remain with the company. Some of those who left today are in better jobs; some of them took a pay cut and joined organizations one level below, while many are still unemployed waiting for the market to pick up. Some of them postponed their marriage plans, some postponed their babies, and many of them reinvented themselves for no fault of theirs. If the rest of world went through one recession and economic downturn, Satyamites had a double bonus – recession+ fiasco.

We were shocked when employees were asked to leave against their will. This is like your father asking you to leave the house one morning because he thinks you are an overhead.It was even suprising the way IT companies and HR teams behaved with those Satyam employees seeking employment. I can only compare this with robbery and rape that happened post Katrina in New Orleans. For those who continued to work at Satyam, it is step motherly treatment.

Not everyone gets a chance in life to experience or face this kind of situation. May be we can put on our resume "Satyam Survivors". Not for sympathy, but as a sign of courage and endurance.

On a lighter note, my mother has learnt to read scrips, move her eyes fast to catch the scrolling news and now watches CNBC and NDTV profit. Necessity is the mother of invention or adversity brings the best in people?

A year has gone by and there is still no balance sheet, auditors are still excavating, exploring and discovering the ruins.
365 days have gone by and the accused is still out in the hospital for treatment.
8760 hours have gone by and truth is locked in a dark room protected by Investigation agency and judiciary.

Lessons:
Doesn't matter if you are a star performer or you have the right skill sets or your are from an ivy league or you have been loyal, but when the employer decides, you have no choice but to leave.
Satyam crisis has exposed that employer loyalty exisit only on paper and is rarer than rare elements in the periodic table.
Always have a plan B, in IT parlance "BCP".
You can commit a heinous crime in India and you can still be out.
Bottom line nothing is guaranteed in life. Even for the crime you commit punishment is not guaranteed.

Satyam - What public demands - JUSTICE!