Wipro reorganises core IT outsourcing business
India's No.3 software services firm Wipro Ltd said on Monday it had reorganised its key IT outsourcing business, less than three weeks after it named a new chief executive as it seeks to win more clients.
February 08, 2011 / 08:37 IST
India's No.3 software services firm Wipro Ltd said on Monday it had reorganised its key IT outsourcing business, less than three weeks after it named a new chief executive as it seeks to win more clients.
Wipro has been struggling to keep up with sector leaders Tata Consultancy Services and Infosys Technologies, with its earnings and volume growth in the December quarter lagging that of its larger rivals.Last month, Bangalore-based Wipro named company veteran TK Kurien as chief executive officer, overhauling its joint chief executive structure."The fact that they announced the reorganisation so quickly is a positive sign, but we will need to see how this goes," said Arun Kejriwal, director at KRIS, a research firm.Wipro has organised its IT business into six business units by industry, and managed by different people."With the change in environment, there is a need for a bolder, simpler and more agile organizational structure," Kurien said in a statement.Last month, India's top engineering and construction company, Larsen & Toubro said it will reorganise its operations into nine business verticals as the conglomerate seeks to simplify its structure to better manage growth. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
