Bangalore: Campus recruits set to join Wipro Technologies Ltd this year can tuck away the money they had saved up for a security deposit. The computer services firm has decided to do away with the bonds through which employees paid a security deposit of Rs75,000, and agreed to work with Wipro for a minimum of 15 months.
Some experts say the move makes sense at a time when companies are grappling with uncertainty about deals and client spending amid the global economic downturn that has caused information technology (IT) providers to scale down or delay hiring plans.
Pratik Kumar, executive vice-president for human resources at Wipro, says: “We have people coming in after a year’s delay, and since they have been delayed for so long, we felt it’s a little unfair to say that they’ll be on bond for an additional 15 months.”
Wipro’s bigger rivals Tata Consultancy Services Ltd and Infosys Technologies Ltd are not making any such change to their hiring policy. IT firms invest huge amount on training, and seek to secure that investment.