The country's third-largest IT services company, Wipro has reported a profit of Rs. 2,930.7 crore in the September 2021 quarter. Furthermore, the profits declined by 9.6% due to a contraction in margins after a wage hike. However, gross revenue has been increased by 7.8%, making it Rs. 19,760.7 crore. Wipro also surpassed the $10 billion milestones of annual revenue run rate.
Courtesy: Money Control
Indian multinational company Wipro is expected to allow its employees to work from the office, from September. Saurabh Govil, the Chief Human Resources Officer, stated that the decision would be implemented depending on the pandemic and the third wave, as well as on the speed of the vaccination drive. The company has vaccinated almost 35,000 employees under its premises.
Courtesy: Times Now Digital
As per sources, with automation coming at a faster pace across industries like tech space and domestic software firms, around 3 million people are likely to lose their jobs by 2022. This slash of headcount is expected to save companies an enormous amount of USD 100 billion, which they pay off as salaries annually. TCS, Infosys, Wipro and Tech Mahindra are some of the companies which are likely to retrench.
Courtesy: Hindustan times
Showing signs of recovery, several IT Companies including Accenture, Infosys, WIPRO and Tech Mahindra have given a second increment and promotion within a month. Reportedly, the move came after business picked up in the second half of 2021. While the last year’s increment were deferred due to pandemic-led dip in the market, the companies are paying out loud amid intense talent competition ushered by business recovery.
Courtesy: Times of India
The Azim Premji-promoted IT giant Wipro is all set to acquire British consultancy firm Capco in a $1.45-billion deal. Accounting for the highest investment in technology by the company, the deal will help Wipro gain over 30 new banking and financial services, and insurance clients. Based in London, Capco offers services to financial institutions in American, European, and Pacific regions. Wipro had Rs 45,234 crore cash on its book at the… read-more
Courtesy: The Financial Express
The Dallas Venture Capital (DVC), an Indo-American firm owned by Dayakar Puskoor and former Wipro CEO Abid Neemuchwala, launched 'DVC Advantage' on January 6 to help startups. The DVC Advantage would help start-ups in various areas like corporate governance, technological assistance, and business development among others. The programs will assist the portfolio companies with strategic guidance across products,… read-more
Courtesy: Brifly News
Multinational IT firm Wipro has signed a 5-year deal with Fortum, a Finland-based clean energy firm for Application Management (AMS) and Services Integration and Management(SIAM). Reportedly, according to the contract, Wipro will handle Fortum's portfolio for over 11,500 customers in 18 nations. Wipro will also use its AI-powered platform, 'Wipro Holmes' to improve the end-user experience on the applications. Further, the firm plans to… read-more
Courtesy: The Hindu
Rishad Premji, the Chairman of Indian IT giant, Wipro, addressed his first, virtual-annual general meeting on Monday. He claimed that the company has not laid off any employee in this pandemic situation and reassured employees that the company has no plans to do so at the moment. Although, like other IT companies, Wipro has reduced hiring due to the current situation.
Courtesy: The Economic Times