May 2, 2024
Nagarro Response
2yThanks, dear colleague - I take up this challenge. I infer from your comments that you are based in India and will respond as such.
You have used facts artfully to paint a glum picture. If this were a debate, I would say, well done!
But this is not a debate. People who read these reviews make their life decisions based on them. Therefore, it is very important to go beyond fake news and into the depth of the facts.
Let’s take your biggest fact: you say, “Now they have increased this (org bonus) component by up to 20 percent”. Well, you conveniently neglect to say that the 20% probably applies to just 0.1%, only to the senior management.
And why did we do this? To make sure the company is steered so that everyone gets the org bonus. I explained this in a town hall. You obviously have understood it, but have used the facts in a sly way to shape your narrative.
In the same way, you mention management’s globetrotting. But you don’t mention that management is doing that in Economy class seating and mid-range hotels. Find me another billion dollar company where that happens.
You mention a tight circle of friends at the heart of the company, but fail to mention that most of these people met in the company nearly twenty years ago through the 15-odd companies that are now Nagarro.
You mention management and extravagant parties in the same breath but fail to mention that the vast majority of our party spend is on the big annual party for all Nagarrians - in India, it is the Jalsa - and team parties and barely anything outside that. And though Jalsa looks extravagant, it is managed so carefully that the cost per person is so low you wouldn’t believe it.
So, full marks to you as a debater but not so many marks in presenting a fair picture of the company.
The one point I will concede is around MyN. People have seen the share price erode. But the same share that went once from 65 to 200+ can once again move up once market conditions improve. And you know that as per the conditions of MyN, Nagarro is giving one share for every three held for the full term, which in some way protects the downside.
Cheers,
Manas