No coronavirus layoffs at Wipro, assures Rishad Premji; says firm is risk-free from H-1B visa ban

Rishad Premji said that Wipro is risk-free from H-1B ban as it has hired nearly 70 per cent employees in the US from that country itself.

Even as many IT firms lay off employees amid the ongoing crisis, Wipro has assured that neither it has laid off any employee so far, nor it will lay off anyone in the coming times. However, the company has planned for cost reductions through various operational means to survive through the crisis, Wipro Chairman Rishad Premji said at the company’s 74th annual general meeting (AGM). While most of the employees across various firms are working from home, Wipro mentioned that 95 per cent of its employees are working from home and said that the future is expected to be a hybrid model.

The US is the largest market for Wipro, which contributed around 59.1 per cent to the company’s total revenue for FY20. However, on US President Donald Trump’s decision to put a ban on H-1B visa, Rishad Premji said that Wipro is safe as it has hired nearly 70 per cent employees in the US from that country itself. While the businesses around the world are struggling to survive, Wipro said that there is a lot of acceleration in areas of infrastructure, cloud, and virtual remote access, while a large cybersecurity practice by the company continues to thrive.

The Wipro Chairman added that Covid-19 is one of the biggest crises in the last century and the tragic loss of human suffering is staggering while the economic activity has collapsed. He said that many of these changes in technology will stay as the notion of work from anywhere is no longer a mere notion. 

Rishad Premji expected that virtual, remote, distributed work models will become the norm, which Wipro has already implemented after significantly investing in digital and cloud technologies. Meanwhile, a series of layoffs by information technology (IT) companies have been recently witnessed in India and globally, as the sector struggles with a lack of projects and a comparatively larger workforce during the current coronavirus pandemic.

This story was first published on on 13 July 2020.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.