New York: India’s third largest software-services provider, Wipro Ltd plans to hire more workers in the US to take advantage of a rebounding technology market.
“We are seeing signs of stability, signs of decision-making coming back,” chairman and chief executive officer Azim Premji, 64, said in an interview at Bloomberg headquarters in New York on Thursday. “So overall positive, but still cautious.”
Premji is betting that the US employees will help the Bangalore-based company win local orders, including contracts with the federal government, as the world’s largest economy starts to recover from the worst recession since the 1930s. Wipro gets about half its revenue from the US.
The company plans to hire about 500 US employees for a new services centre by June, he said. He declined to name possible locations, saying he is talking to different state governments. The company already has a centre in Atlanta.
“Everybody wants employment,” said Premji. “That’s the trump card today.”
Larger rival Infosys Technologies Ltd reported second quarter profit that beat analysts’ estimates last week after winning more business from current customers.
Wipro designs and builds software programs, maintains computers, and provides product-engineering services and back-office support to General Electric Co., Cisco Systems Inc., Citigroup Inc. and other customers. It will report results on 27 October for the three months ended 30 September.
Wipro’s shares fell 1.06% to Rs575 on the Bombay Stock Exchange. The stock has more than doubled this year, compared with a 79% increase for the benchmark Sensex index.
Harichandan Arakali in Bangalore and Connie Guglielmo in San Francisco contributed to this story.