Wipro fires 600 employees after performance appraisal
NewDelhi, April 20: Wipro, as per reports, has fired around hundred of employees as part of its annual performance appraisal. If sources are to believed, Wipro has shown the exit door to around 600 employees and it is being speculated that the figure could shoot up to 2000. Wipro, until 2016 end had around 1.79 lakh employees.
When contacted, Wipro said it undertakes a “rigorous performance appraisal process” on a regular basis to align its workforce with business objectives, strategic priorities of the company, and client requirements. Wipro also issued a statement saying the appraisal may pave way for separation of some of the employees and the numbers differ from year to year.” The company did not comment mention on the number of employees which have been asked to leave.
Wipro said its comprehensive performance evaluation process includes mentoring, retraining and upskilling of employees. The company is scheduled to report its fourth quarter and full-year numbers on April 25. This news came at a time when Indian IT companies are facing an uncertain environment after visa norms are restricted by countries like 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 the movement of labour as well as a spike in operational costs. The IT companies generate around 60 per cent of their revenue from North America, and about 20 percent from Europe.
(With Agency Inputs)