SATYAM VIRTUAL POOL POLICY = AN EXPLOITATION FOR UNDUE PROFITS

The employees of the corporate community are worried about the developments happening in Sat yam. The fraud had affected the future of employees and that of small share holders. Then the Union government started interfering into the affairs of the company saying that it would protect the prospects of the employees and that of small / petty investors. The induction of directors and the process of takeover of the company through bidding was not agitated / resisted by the employees of company with a hope that government would stand on its view.

Later, as even TechMahindra took over Satyam, there was no much interest shown to protect the small investors and no action has been taken against inside trading. Now TechMahindra has started cutting down the number of employees through a different name for layoff, called virtual pool for non billable employees. This is fabrication of the layoff and is a plot to exploit the fraud hit company much to the core. The categorization of employees as billable and non billable can't be done as every employee has been recruited through the same means and for the single entity.

The government policy, now seems to have changed as United Progressive Alliance is being dominated by the ruling Congress, shows no interest in interfering the company now. Employees strongly resent the statements of Minister for Corporate Affairs, Mr. Salman Khurshid trying to support the virtual pool policy of Sat yam. These statements, if true, stand as evidence for one who can say that the Congress government has no interest for protecting the employees of Sat yam and is also trying to gain illegal profits from the lobby of Mahindra's.

At this juncture, we feel that the Prime Minister, Mr. Manmohan Singh should take note of the happenings in Sat yam, ensure that employment is not at loss and protect the company from further being exploited for undue profits.