Wipro to hire workforce outside India for onsite projects

Meeting one of his major election promises, President Barack Obama announced the end to years of tax incentives to US companies, which create jobs overseas. Indian IT major Infosys seemed unperturbed, saying the Obama’s proposal would not impact too much of Infosys’ business.

NASSCOM however, expressed concern over the move and hoped such moves do not get pushed through. It said that free trade should be allowed.

Girish Paranjpe, ED and Joint CEO, Wipro agreed with Nasscom’s view but on a positive note said sentiment was beginning to go through a stabilisation phase since the January-February quarter. “Over the next couple of months, we should see much more stability returning because once you have stability then you can see much more rational decision making, then I think things will be normal.”

On cutting costs, Paranjpe said the company was looking at more innovative ways to contain costs rather than just slash employees. “We think there is a great opportunity to invest in new areas, in newer technologies so that when the market does pick up we are ready with both capability in terms of people as well as in terms of technology.” He added that the company plans to hire workforce outside India for onsite projects overseas in the long-term.