Wipro Suspended 600 Employees Post Performance Hike
By F9 Team : 21-Apr-2017
The third largest software industry in India has recently shown the pink slip to 600 of its employees as part of its annual performance appraisal. This included the search of non-performers, the people who were on the bench, and finally releasing them out. It was also speculated that the number could go up to nearly 2,000 terminations. However, the Chief Executive Officer of Wipro Abid Ali Neemuchwala had already declared that the organisation will discharge 4,500 people in the financial year of 2017.
By the end of December 2016, the Bengaluru-based firm had more than 1.79 lakhs of the workforce. Meanwhile, this new system and execution process generated a series of actions that involved mentoring, retraining and up-skilling, as the company is all set to report its 4th quarter and full-year numbers on April 25th, 2017.
It was known that the Indian IT companies are witnessing a doubtful situation that has restricted on the worker visa norms amongst several countries like US, Singapore, Australia and New Zealand respectively. As the visa applications in these nations have slightly become tough and India's IT offices have faced difficult challenges for the movement of labour as well as a pinch in the operational cost.