Joining the likes of Google and Amazon, as well as Indian firms like Swiggy, that have announced downsizing in recent weeks, IT services giant Wipro has sacked over 400 entry-level employees after they performed poorly in internal assessments despite proper training.
In a statement, the company said, "At Wipro, we take pride in holding ourselves to the highest standards. In line with the standards, we aim to set for ourselves, we expect every entry-level employee to have a certain level of proficiency in their designated area of work. The evaluation process includes assessments to align employees with the business objectives of the organisation and the requirements of our clients. This systematic and comprehensive performance evaluation process triggers a series of actions, such as mentoring and retraining, and in some cases, the separation of certain employees from the company."
According to The Times of India newspaper, the IT services giant informed the affected staffers that they were liable to pay Rs 75,000 each for training costs, but the company has decided to waive the expense.
Earnings
Last week, the company reported a 2.8 per cent rise in consolidated net profit for the quarter ending in December 2022 and is expecting "strong" bookings for the fourth quarter despite the global slowdown. However, the company expects the revenue in its key IT services business to decline in the current quarter as many clients were hesitant in making spending decisions. Another reason could be the subsiding pandemic-led boom, as many companies are going ahead with slower spending or taking time to make decisions amidst fears of global recessions.
