Article: Satyam fallout: Worst HR crisis in India Inc

Strategic HR

Satyam fallout: Worst HR crisis in India Inc

About 200 employees of PricewaterhouseCoopers (PwC) are understood to have left the firm in the past couple of months as the country’s largest audit and consulting firm continues to grapple with the collateral damage arising from its alleged involvement in the fraud at Satyam Computer Services, and from people issues due to a change of guard. This could be one of the largest exoduses from a professional services firm within a relatively short time. This huge number includes almost 19 partners also. PwC employees who have left have joined rival firms such as KPMG, Ernst & Young and Deloitte. The exits are across all hierarchies in the professional services firm and, according to people connected with the development, started after investigating authorities probing the Satyam fraud filed a supplementary charge sheet that named two Price Waterhouse partners for their alleged involvement.

About 200 employees of PricewaterhouseCoopers (PwC) are understood to have left the firm in the past couple of months as the country’s largest audit and consulting firm continues to grapple with the collateral damage arising from its alleged involvement in the fraud at Satyam Computer Services, and from people issues due to a change of guard. This could be one of the largest exoduses from a professional services firm within a relatively short time. This huge number includes almost 19 partners also. PwC employees who have left have joined rival firms such as KPMG, Ernst & Young and Deloitte. The exits are across all hierarchies in the professional services firm and, according to people connected with the development, started after investigating authorities probing the Satyam fraud filed a supplementary charge sheet that named two Price Waterhouse partners for their alleged involvement.

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Topics: Strategic HR, C-Suite

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