Wipro Ltd has not laid off a single employee due to the impact of the covid-19 pandemic, and has no plans to do so at the moment, chairman Rishad Premji said.
Wipro, however, continues to drive cost reductions through various “operational means" to wade through the challenging times, Premji said at the company’s 74th annual general meeting (AGM) held virtually on Monday.
Globally, the information technology (IT) industry has witnessed massive layoffs in recent months as business slowed down.
Several global IT majors have let go of thousands of employees, especially on bench, who are not working on billable client projects.
Indian IT services peers, such as Tata Consultancy Services (TCS) Ltd and Infosys Ltd, have also not undertaken any massive layoffs, though routine performance-based exits continue.
Currently, over 95% of Wipro employees are working from home and the future is expected to be a hybrid model. “We may move to a balance between work from home and work from office. The model will evolve in next 12-18 months," Premji said.
Premji termed the US government’s ban on H1-B visa as “unfortunate". However, Wipro has “de-risked" itself with its localization journey with nearly 70% of the US employees being locally hired, he said.
For the Bengaluru-based IT major, the US is the largest market, which contributed 59.1% to the company’s total revenue for FY20. The company employed more than 41,000 employees located outside India, out of its total workforce of 188,270 as in FY20.
The global pandemic has also led to a change in the spending patterns of clients with discretionary spending slowing down.
“There is however lots of acceleration in areas of infrastructure, cloud, and virtual remote access…we also have a large cyber security practice that continues to thrive…," he said.
Premji said the traditional ways of working are expected to change. “We can expect that virtual, remote, community-based and distributed work models will become the norm, all powered by collaborative technologies. Enterprises will fundamentally evaluate their technology capacity and investments so that it enables them to operate with flexibility and agility, and work with partners who can respond and adjust quickly to changing circumstances."