The news report quotes an employee, who has been laid off, saying that around 300 employees were laid off on a single day. The employee said that many had to wait for a long time to get back their documents, after being told about the company's decision.
Recently, Girish Paranjpe, joint CEO of Wipro's IT business, said that the performance criteria has become tougher now, because of the slowing economy.
In just-announced Q$ results, Wipro outperformed its larger rivals Infosys and TCS both in terms of profit and revenue growth. The company announced a 25% growth in total annual revenues in 2008-09 at Rs 25,544 crore and a 19% rise in net profit at Rs 3,899 crore. Its fourth quarter brought in a net profit of Rs 1,010 crore (growth of 15% over the corresponding quarter a year ago) and revenues of Rs 6,452 crore (13% growth). IT services brought in most of that, at Rs 4,932 crore.
In September last year, Wipro had put about 4-5% of its workforce, about 2,400-3,000 employees, under the scanner for non-performance. The company said that while some would be given counselling to improve their performance, others would be asked to leave.
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