Friday, May 22, 2009

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Satyam losing more clients

Two US-based clients of Satyam Computers, Agilent Technologies and Lowe's Companies, along with another banking sector client Euronet Worldwide, have terminated their contracts with the scam-hit IT firm.

The firm had been losing clients from the time the scam broke in January this year and Tech Mahindra's (TechM) takeover has not been able to arrest the trend.

Agilent, a measurement company, that withdrew its project last week, including a 24-hour customer support facility, had earlier terminated another ongoing project with Satyam in January, soon after news of B Ramalinga Raju's confession to the Rs 7,000-crore fraud broke.

While this project is said to have gone to TCS, sources indicate that the earlier project had been bagged by Hewlett Packard. "Agilent will prove to be a huge loss for us. Not only did it bring good business to the company, but also had close to 300 associates working on its projects," said a mid-management level Satyamite.

Many associates on the Agilent project until recently are now on the bench awaiting either a new project or a pink-slip. Lowe's, a chain of retail home improvement and appliance stores, also called off its project with Satyam recently. The project had close to 120 employees of the IT firm working on it.

"Any project which involves a team that has more than 50 members is considered to be big. Hence, this too was a big project and would definitely add to the woes of the company and its staffers," said another Satyamite.

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