India’s fourth largest IT firm Wipro has reportedly sacked around 120 employees in the US, citing “realignment of business needs”. Of late, several tech companies have undertaken job cuts to counter slowdown in growth due to multiple economic headwinds.
In this round of layoff, the company has fired over 100 processing agents, besides several team leaders and a team manager, according to a report
The company filed a notice about the layoffs in a Worker Adjustment and Retraining Notification (WARN) with the Florida Department of Economic Opportunity, according to local media. The job cuts by Wipro are at only one location in Tampa, reports said
Wipro termed the layoff decision as an “isolated incident”.
“Wipro remains deeply committed to the region. And all other Wipro employees serving clients in the Tampa area remain unaffected,” the company said.
Back home, the IT firm in January fired more than 400 fresher employees for “poor performance” in internal assessment tests.
Wipro also asked fresh recruits who have been offered Rs 6.5 lakh per annum if they would be able to work for Rs 3.5 lakh per annum.
According to reports, some of the world’s largest tech firms, including Meta, Google, Amazon and Cisco, have laid off more than 1,50,000 employees in the last one year alone.
One of the reasons for these job cuts is that companies over-hired people during the COVID-19 pandemic and later with demand slowing down, they had to realign their business. Investors also pushed the companies to counter slowdown in revenue growth, negative cash flows and dismal earnings.
