Corporate affairs minister Salman Khursheed has recently said today that the goverment will not let Satyam(??) to layoff its employees.The minister hinted at the government’s “active involvement” in the company’s affairs even after its takeover by Tech Mahindra of Mahindra and Mahindra group.More on this here.
I wonder whether this company is Tech Mahindra or Satyam.Will he take this same stance if Satyam had been acquired by some US based company?I can only say this goverment’s decision is like robbing Peter inorder to pay Paul.As long as Satyam is governed by goverment, goverment may make any claim on it provided it has its share in it.Can’t the goverment leave the private sector alone without tying its hands behind?Satyam scandal is a fraud committed by Ramalingam Raju.But asking some one else to bear the brunt of it is not justifiable.Even after taking over the sunken company,Tech Mahindra has to pay for its benchers.
But what had prompted Ramalingam Raju to commit such a fraud?Why did he do that in the first place?Is he alone responsible for this fraud? Satyam was the company which not only recruited top performers from reputed colleges but also many graduates who are from second and third rung institutes.It gave them an oppurtunity to perform and prove themselves as good as anyother.Many lower class familes have become considerably wealthier.Some of the recruited people, particularly the benchers have become liability for them.In a globalised economy,these things have become common. Gurcharan Das has clearly described the events which had led Satyam to bankruptcy in his blog.
Similar news on Tech Mahindra layoffs is here. The news clearly says that the technical test is not compulsory for every employee.Even then there is so much fuss about this.It is sad and unfortunate that these many employees are facing the layoff threat.But this won’t be permanent.Even if they are laid off, these techies will be able to find their way.Definitely they don’t want to be spoon fed by the goverment.