Wipro's 'Performance Appraisal' Results in Sacking of 600 Employees
The country's third largest software services firm Wipro has sacked hundreds of employees following its annual "performance appraisal".
Representative image. (Image: Reuters)
New Delhi: The country's third largest software services firm Wipro has sacked hundreds of employees following its annual "performance appraisal".
According to sources, Wipro has shown the door to about 600 employees, while speculation was rife that the number could go as high as 2,000.
At the end of December 2016, the Bengaluru-based company had over 1.79 lakh employees.
"The performance appraisal may also lead to the separation of some employees from the company and these numbers vary from year to year," it added.
The company, however, did not comment on the number of employees who have been asked to leave.
Wipro said its comprehensive performance evaluation process includes mentoring, re-training and upskilling of employees. The company is scheduled to report its fourth quarter and full-year numbers on April 25.
The development comes at a time when Indian IT companies are facing an uncertain environment given the curbs being proposed on worker visa norms by various countries like the US, Singapore, Australia and New Zealand.
These companies use temporary work visas to send employees to work on client sites.
With visa programmes in these countries becoming more rigorous, Indian IT companies are likely to face challenges in movement of labour as well as a spike in operational costs.
Indian IT companies get over 60 per cent of their revenues from the North American market, about 20 per cent from Europe and the remaining from other economies.
Besides, higher adoption of technologies like automation and artificial intelligence is also reducing the need to have a large number of employees at client site.
|Dr Reddys Labs||2,457.75||-28.80||-1.16|
Recommended For You
- PM Modi Writes to BCCI; Asks Indian Team To Do Their Bit for Swachh India
- Malaika is a Dynamic Fashion Icon, Says Celebrity Stylist Maneka Harisinghani
- GQ Men of the Year Awards: Aamir, Ranveer, Anushka Turn Heads At The Event
- Six Times Rakhi Sawant Proved She's the Ultimate Controversy Queen of Bollywood
- Breaking Myths With Mandira Bedi: Crunches Are The Key To Get Flat Abs