Wipro Ltd. said it’s “aligning business and talent” to a “changing market environment”, amid reports that India’s fourth-largest IT services firm was undertaking mass layoffs to shore up profitability.
“We are committed to investing in our people, processes, and technology to drive better client and employee experiences and enhance productivity, agility across our organisation to meet fast-evolving client and market needs,” a Wipro spokesperson replied to NDTV Profit over email, when asked to comment on reports of mass layoffs at the firm.
“Aligning our business and talent to the changing market environment is a critical part of our strategy as we look to build a resilient, agile and high-performance organisation.”
Wipro is in the process of cutting “hundreds” of mid-level roles onsite in an attempt to improve margin, ET Prime reported on Wednesday, citing two people with knowledge of the matter. The Bengaluru-based IT services firm has sent intimations to employees who are “very expensive resources onsite at Capco”.
The move is significant, for it comes nearly three years after Wipro acquired U.K.-based IT consultancy Capco Inc. for $1.45 billion—its biggest acquisition till date. That bet has yet to pay off meaningfully as a pandemic boom in the consulting and outsourcing space has gone bust amid sustained macroeconomic headwinds in the U.S.
Aparna Iyer, who took over as Wipro’s chief financial officer less than six months ago, has now been tasked with showing better margins in the January-March quarter.
Wipro Aligning Talent With Changing Market Amid Reports Of Mass Layoffs - NDTV Profit
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