Wipro has no plan to lay off employees at the moment: Rishad Premji1 min read . Updated: 13 Jul 2020, 11:03 AM IST
- However, Wipro continues to drive cost reductions through various 'operational means' to wade through the challenging times
BENGALURU: Wipro Ltd has not laid off a single employee due to the impact of the covid-19 pandemic, chairman Rishad Premji said at the company’s 74th annual general meeting (AGM) held virtually on Monday. “Also we have no plans to lay off at the moment," Premji said.
However, Wipro continues to drive cost reductions through various “operational means" to wade through the challenging times, he said, addressing investor queries.
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.
Addressing investor concerns on the US government’s ban on H1-B visa, Premji termed the move as “unfortunate". However, Wipro has “de-risked" itself with its localisation 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 contributing 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 1,88,270 inFY20.
The global pandemic has also led to a change in the spending patterns of clients with discretionary spending slowing down.
“There is however lot 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.