Source: News Bharati English21 Apr 2017 12:32:47
Mumbai, April 21: India's third largest software services company Wipro has fired about 600 of its employees as part of its annual 'performance appraisal'. It is said that the number could go as high as 2,000. Wipro had 1.79 lakhs employees as of December 2016.
The Bengaluru-based firm said that the move was to align its workforce with its business objectives. Its full-year and 4th quarter report will come out on April 25. Wipro said its comprehensive performance evaluation process includes mentoring, re-training and upskilling of employees. The company is scheduled to report its fourth quarter and full-year numbers on April 25.
Wipro said that the rigorous performance appraisal process on a regular basis to align its workforce with business objectives, strategic priorities of the company, and client requirements. The performance appraisal may also lead to the separation of some employees from the company and these numbers vary from year to year.
Notably, Indian IT companies get over 60 per cent of their revenues from the North American market, about 20 per cent from Europe and the remaining from other economies.