Wipro has no plans to layoff employees at the back of the pandemic, said Chairman Rishad Premji.
Speaking at the 74th annual general meeting, Premji said, “So far, not a single person has been laid off and (we) have no plans of laying off any employees.”
However, the company is driving cost cutting measures at the back of the pandemic, he added, responding to investor queries.
The company employs about 1,82,886 employees and has employed work from home for more than 93 percent of them.
“We are looking (for a) balanced work from home approach and don’t expect 100 percent of the employees to work from (the) office,” he said. The company is evaluating options and seeing how the model unfolds in the next 12-18 months.
For the model to work in the long-term, the company would need client permissions. “We are also working with NASSCOM (IT industry body) on the same,” Premji said.
On the issue of H-1B, Premji said that, though the move was unfortunate, the company had de-risked itself by stepping up localisation.
“Right now, close to 70 percent of us employees in the US are locals,” he said.
Wipro’s H-1B dependence came down by close to 60 percent to 3,118 in FY19 from close to 7000 in FY16.
At the back of COVID-19, the company has seen accelerated adoption of technologies such as cloud and cybersecurity and is well-positioned to cater to the changing business models, Premji said.
Theirry Delaporte, who took charge as the CEO on July 6, said, that the primary focus will be on profitability and regaining momentum by making bold bets. “Over the next few weeks, working closely with Chairman Rishad Premji and other senior leaders, I hope to finalise the plan to drive improvements across all spheres in our quest to achieve industry-leading growth.”
Over the last few years the company’s growth has been stagnant, growing at 2 percent on average compared to its peers such as TCS, Infosys and HCL Tech. The company registered revenue of $8.256 billion for the year ended in March.