Word: satyam
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Ever since Jan. 7, when news broke of a $1 billion corporate-accounting fraud at Satyam Computer Services, the scandal has been called India's Enron. There are many similarities: inflated assets, a disgraced but politically powerful chairman, an auditor under a cloud, even an attempted suicide. (Satyam's chief financial officer, Srinivas Vadlamani, was unsuccessful. Enron executive J. Clifford Baxter died.) There is one big difference. Enron imploded, and its employees were kicked to the curb. But Satyam's workers, who number about 50,000, may be spared sweeping layoffs...
...Issuing pink slips en masse is a political nonstarter in India, and it's even less likely to happen in an election year. With India's flagship information-technology sector under global scrutiny, the government looks keen to salvage Hyderabad-based Satyam, the country's fourth-largest outsourcing company. "I am pretty sure the employees are on safe terrain," says James Agarwal, head of executive-search firm BTI Consultants India. "There is no chance the government will allow the company to go down. It is important for employees, for Indian corporates, for the government." (See pictures of the global financial...
Technology companies and foundations are also joining the effort to support community health workers. Mobile-phone giant Ericsson is empowering these workers with phones and support systems for training, reporting vital statistics and calling ambulances, among other services. In India, Satyam Computer Services and other organizations have partnered with the state government of Andhra Pradesh to provide emergency-response coverage for 80 million people. The Gates Foundation is similarly stepping up its programs of mobile-phone-based health delivery...
...done with it," says Amrita Sapre, a marketing and sales professional with Microsoft in Bangalore. "One year in this city, and I can't take it any more!" Like many young Indian executives, Sapre and her husband Parag, who works with Satyam Computer Services Ltd., thought a stint working at giant IT corporations in Bangalore would be a great addition to their resumes. But a year on, the Sapres are stressed out, and ready to move to Kuala Lumpur, the capital of Malaysia. "Our jobs keep us so busy that we only meet each other on weekends; there...
...labor-intensive work. But that's Big Business in its own right, employing more than 50,000 people and expected to provide more than a million jobs by 2008. Indian software exports have grown from $50 million in 1993 to $6.3 billion this year. Ramalinga Raju, billionaire chairman of Satyam Computer Services, says those opportunities could eventually give India 5% of the worldwide opportunities in IT and create up to 50 million jobs in the next two decades...