One of the IT majors in the Indian IT industry, Satyam has been under a truck load of trouble over the past few weeks and the trouble has escalated even higher today with the company stocks down by about 70%.
The CEO has resigned from his post due to the conflict in acquiring Matyas and I just heard that some of the top officials may be arrested very soon due to falsely inflating the revenue and turnover of the company to attract more investors.
The company has advised its employees to buy the company stocks as much as possible and prevent a hostile takeover. However, the employers who have already been affected by the situation of the company don't seem to be ready to put their hard earned money into a sinking company.
With the company having its reputation which it had built for the past 2 decades go to the cleaners with both domestic and international clients, it seems the employees are better off looking elsewhere and those who are yet to join the company may as well forget joining the company anytime soon.
Subscribe to:
Post Comments (Atom)
Post a Comment