Wipro, the information technology services firm, responded to recent media reports about layoffs at mid-level onsite roles by stating that it is “aligning” its talent strategy with the evolving market environment. The move is part of Wipro’s broader strategy to build a resilient, agile, and high-performance organization, as stated in an official statement provided to Moneycontrol on January 31.
According to reports, Wipro has communicated notifications to hundreds of mid-level executives onsite earlier this month. The rationale behind these actions, as per sources, is the cost associated with these “very expensive resources onsite in Capco.” Capco is a consulting company that Wipro acquired in 2021.
The report also highlighted that Wipro’s Chief Financial Officer, Aparna Iyer, has been assigned the responsibility of improving margins in the January-March quarter. Wipro’s initiative reflects its commitment to adapting to the changing market dynamics and maintaining a competitive edge in the industry.