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Bad news follows Satyam ...World Bank bans Satyam from Offshoring

Satyam banned from offshoring work with World Bank 11 Oct 2008, 2013 hrs IST,AGENCIES

NEW YORK: Software major Satyam Computer Services has reportedly been banned from doing any off-shore work with the World Bank after forensic experts and bank investigators discovered that spy software was covertly installed on workstations inside the bank's Washington headquarters, allegedly by one or more contractors from Satyam Computer Services. According to a FOX News report, apart from Satyam, two IP intrusions have been reported from China, and there have been six intrusions in all. Investigators say that the software, which operates through a method known as keystroke logging, enabled every character typed on a keyboard to be transmitted to a still-unknown location via the Internet. Upon its discovery, bank officials shut off the data link between Washington and Chennai, where Satyam has long operated the bank's sole offshore computer center responsible for all of the bank's financial and human resources information. "I want them off the premises now," World Bank President Robert Zoellick reportedly told his deputies. But at the urging of CIO De Poerck, Satyam employees remained at the bank as recently as October 1 while it engaged in "knowledge transfer" with two new India-based contractors. Satyam is publicly listed on the New York Stock Exchange and boasts having two billion dollars in sales and more than 150 Fortune 500 companies as clients. In 2003, Satyam won a lucrative five-year "sole source" contract to design, write and maintain all of the World Bank's information systems. The contract, which began at $10 million, had grown to over $100 million by 2007. This year, the contract was not renewed. Satyam has declined to comment. FOX News claims that outsiders have raided the World Bank Group's computer network, one of the largest repositories of sensitive data about the economies of every nation, repeatedly for more than a year. It is still not known how much information was stolen. But sources inside the bank confirm that servers in the institution's highly restricted treasury unit were deeply penetrated with spy software last April. Invaders also had full access to the rest of the bank's network for nearly a month in June and July. The crisis comes at an awkward moment for Zoellick, who runs the world's largest and most influential anti-poverty agency, which doles out $25 billion a year, and whose board represents 185 member nations. This weekend, the bank holds its annual series of meetings in Washington, and just in advance of those sessions, Zoellick called for a radical revamping of multilateral organizations in light of the global economic meltdown. Zoellick is positioning himself and the bank as an institution that can help chart a new path toward global financial stability. But that reputation, more than ever, depends on the bank's stable information infrastructure. According to internal memos, "a minimum of 18 servers has been compromised," including some of the bank's most sensitive systems, ranging from the bank's security and password server to a Human Resources server "that contains scanned images of staff documents." One World Bank director told FOX News that as many as 40 servers have been penetrated, including one that held contract-procurement data. It took ten days for bank officials to detect that they'd been invaded. Once they did, they shut down all external servers, except for e-mail, which it turns out the invaders were already using as their entrance point. A World Bank spokesman, however, rubbished the Fox News story, saying it is riddled with falsehoods and errors. Source : The times of India Link : http://timesofindia.indiatimes.com/Business/No_offshoring_to_Satyam_World_Bank/articleshow/3584627.cms

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satyam delays hike

Hyderabad: Satyam Computer Services Ltd, the country’s fourth largest software services firm by revenue, has delayed the payout of annual performance-based salary raises and expects the increases, when they happen, to be smaller than last year’s, as it attempts to ride out a slowdown in the information technology industry.
“Weak market conditions and the corresponding financial outlook is the main reason why things are getting delayed,” said S.V. Krishnan, head of human resources at Hyderabad-based Satyam.
The performance evaluation process, which used to start in April, was delayed and completed only by the first week of July. In previous years, employees had received performance-based raises along with their July pay cheque. Krishnan said the company expects to complete calculating salary increments only by the first week of September.

IT hurts: Satyam chairman B. Ramalinga Raju. ( Madhu Kapparath / Mint)The delay comes in the face of an anticipated slowdown in orders from the US, the biggest market for Indian software firms, where clients are tightening their IT budgets as they weather a credit crunch.
At Satyam, average hikes are expected to be about 11-12% for India-based employees compared with last years’ 16.5-18%, said Krishnan. While the company said it had managed to bring down the attrition rate to 12.6% in the three months to 30 June from 14.9% a year ago, it has slowed hiring as well. Satyam hired 651 employees, including 161 freshers, in the June quarter, its first of fiscal 2009, down from 2,716 (including 1,298 freshers) a year earlier.
Some Satyam employees said while they understand the implications of a weak market, they are unhappy that the management hadn’t kept them informed. “Basic courtesy would be to inform us about such delays,” a Satyam employee who has been with the firm for nearly 10 years said, wishing not to be named. “We were told to expect pay hikes on 14-15 August, and that (date) has already passed.”
Satyam didn’t respond to other questions from Mint. An emailed query hadn’t elicited a response till late Monday.
An analyst said it was unlikely Satyam’s move would increase attrition. “In uncertain times, attrition is normally under control and it has been stable in the past two-three quarters,” said Harit Shah, an equity analyst at Angel Broking Ltd.
Tata Consultancy Services Ltd announced a 10% salary hike for this fiscal, compared with 10-13% in the previous year, while Infosys Technologies Ltd offered a 11-13%increase against 12-15% a year ago. Wipro, which normally announces salary hikes forIndia-based employees in the September quarter, expects raises to be in the range of 8-9%.
“Moderation in wages has started ahead of the industry expectations,” said B.S. Murthy, head of Human Capital Consulting Pvt. Ltd, a Bangalore-based recruitment firm. “The industry was expecting wages to moderate with single- digit hikes in 2010 or 2011.”
Vishwanath Kulkarni contributed to this story.
report from : www.livemint.com
link :http://www.livemint.com/2008/08/19000710/Satyam-delays-hikes-payouts-t.html

Satyam to axe 4500 employees --- is it true?

Satyam to axe 4,500 employees 15 Sep 2008, 0013 hrs IST, Debasmita Ghosh ,TNN

HYDERABAD: Satyam Computers, which has just started giving pink slips to its employees, could potentially downsize its workforce by a whopping 4,500 employees. This translates to a little less than 9% of the 51,000 employees that the company employs. Company sources say 1,500 employees have been put under the performance improvement plan (PIP), euphemism for employees put on watch list and asked to shape up or ship out. Apart from this, 3,000 others have not been given any increment in the last appraisal cycle, thereby indicating that their services are dispensable. "This 1,500 plus 3,000 equals 4,500, which indicates the total number of persons who could be eased out of the company," the source said. On Friday, all employees received an e-mail from the company chief Ramalinga Raju warning them, especially the ones on the bench, to not bunk office and be in their best dress code, failing which they may face strict disciplinary action. Last week, some 400 employees from across different locations were given the pink slip. Sources also indicated that after getting the message many among the 3,000 have also started leaving jobs. But an estimate of the employees who have left is not known. A Satyam spokesperson said: "The bottom 5% of those who have got a bad appraisal are put under PIP and given dummy projects to prove themselves. If they fail they will be shown the door. But some of them marked for PIP said they have been given very little time to come up as winners." However, even as it downsizes, Satyam continues to hire new employees in thousands. Over 40% of them are fresh blood just passing out of college. The spectre of retrenchment is creating panic among employees of the company. "Of the 12 people working in my project, five were suddenly asked to resign, failing which, the company warned, it would fire us. Everything came without warning," said a techie pleading anonymity.

Source : The Times of India link : http://timesofindia.indiatimes.com/Business/Satyam_to_axe_4500_employees/articleshow/3483165.cms