Over 5 lakh have stake in Satyam’s survival: CII

The big question on survival of Satyam Computer is giving anxious moments not only to its over 50,000 employees but also to over half-a-million people.

Written by Agencies | New Delhi | Published:January 10, 2009 5:52 pm

The big question on survival of Satyam Computer is giving anxious moments not only to its over 50,000 employees but also to over half-a-million people,who would get impacted indirectly if the IT firm does not come out of the trouble,CII President K V Kamath said on Saturday.

Kamath said each of over 50,000 Satyam employees supports a family of four. “Every white collar job creates four another jobs. (So) you are talking about anything between half-a- million to a million people,who could directly or indirectly have been impacted by this single event,” Kamath said.

He said the crisis had such a social magnitude that made the government act swiftly and save the company. Besides CII,Assocham and Ficci have also welcomed disbanding of the Satyam board of directors by the government.

They expressed hope that the move would help restore investor confidence not only in Satyam but in corporate India in general.

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