Wipro is particular in ensuring contracts signed with employees are followed and that philosophy will not change, Chairman Rishad Premji said on July 18.
“We are very particular in ensuring that the contracts that we sign with our colleagues and our employees, we hold to. And that philosophy hasn’t changed and will not change going forward as well,” Premji said while addressing shareholders at the company’s 78th Annual General Meeting.
The comments were in response to questions on what the management is doing with certain employees not adhering to contractual obligations.
For context, former Chief Financial Officer Jatin Dalal resigned from the company and joined Wipro’s rival Cognizant. Wipro filed a lawsuit against Dalal, accusing him of violating the non-compete clause in his employment contract within 12 months of his last work date.
Subsequently, both parties reached a settlement, whereby Cognizant paid $505,087 to Dalal to settle the lawsuit and related arbitration.
Additionally, a shareholder also asked the management what its response was to stem leadership churn at Wipro. To this, Premji said that sometimes people get opportunities that give them a bigger leap in their career and so they leave.
"We have bred many CEOs that have gone out to build organisations... Entrepreneurship has always been a part of the secret sauce of Wipro and it continues," Premji said.
Premji further said that the Bengaluru-based company prides itself on giving opportunities to people to grow when they are young in a highly decentralised working environment to run their operations.
On April 6, Wipro’s then CEO and Managing Director Thierry Delaporte resigned, post which the company elevated Srinivas Pallia to the helm.
Also read: Nothing personal, just enforcing contracts: Wipro's Rishad Premji on suing 2 former executives
The Gen AI Picture
Attending his first-ever AGM as Wipro’s CEO, Pallia said the company continues to leverage Generative AI (Gen AI) to boost productivity in its software development and managed services.
“As we continue to implement more and more Gen AI tools, the productivity improves both in terms of coding and testing," said Pallia.
He also highlighted the importance of data management and governance for AI effectiveness. Pallia further said that Gen AI and data will enhance various processes, including customer and employee experience and supply chain visibility.
"In the mid-to-long term, Gen AI will be a net positive opportunity for a company like Wipro and we want to build on that capability and thereby enhance our market share within the business," he said.
In the company’s FY24 Annual Report, Premji said over 30,000 Wipro employees have received advanced training in Gen AI skills tailored to their specific roles.
Information technology (IT) companies have doubled down on Gen AI as they enter every client conversation. As a result, IT service companies are investing significantly in developing Gen AI tools, services, and offerings.
“We have imparted training in basic Gen AI fundamentals to over 225,000 employees, and 30,000 of them have received advanced training tailored to their specific roles,” Premji was quoted as saying in the report.
Chief Executive Officer Srinivas Pallia had said Wipro will continue with its strategic acquisitions and investments in talent to keep up the growth momentum.
“We’ve consistently enhanced our expertise through significant investments in a domain-focused consultative approach for our engagements,” Pallia said in his letter to shareholders as part of the company’s Annual Report for FY24.
Also read: Thierry Delaported: A litmus test for Wipro and Rishad Premji
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