Freshers Apply online -Wipro

August 5, 2009

Hurry today is last date – http://synergy.wipro.com/NASApp/com/ResumeUpdationForWiproUniversity.jsp?JobCode=70007

Eligibility norms to apply :

•Fulltime BSc/BCom/BBA/BBM students only.
•Candidate must have a minimum of 50% aggregate in 10th, 12th and 60% from all years/semesters in his/her degree.
•2009 pass outs only.
•No backlogs or arrears allowed.
•Candidate must have excellent communication, presentation and team playing skills.


Wipro’s clarification on World Bank ban

January 13, 2009

wiproThe grim environment in the IT industry turned grimmer on Monday with Wipro Technologies disclosing that in June 2007, the World Bank had banned it from bidding for its contracts till 2011 because the company had offered shares to the bank’s employees during its US IPO in 2000 which the bank termed “improper benefits”.

Impact of news


The disclosure, which pushed the Wipro stock down by nearly 10% on the Bombay Stock Exchange, came after the World Bank decided to publish names of all companies that it had barred from contracts.

The bank has also barred Hyderabad-based Megasoft Consultants for a period of four years on the grounds that it “participated in a joint venture with bank staff while conducting business with the bank”.

Wipro’s clarification

Wipro said the offer of shares to employees and clients, including World Bank employees, was part of the directed share program (DSP) approved by US stock market regulator SEC. The DSP has the objective of involving employees and customers with the public offering to expand Wipro’s recognition and brand, the company said.


“All participants in the program including the World Bank CIO and another employee who took shares in the names of their wives, signed a statement that their purchase did not violate any ethics or conflict of interest policies of their company, Senapathy said. He said the shares offered were at market price, not discounted, and that some customers had declined the offer because it con flicted with their company’s policies

Inadequate Disclosure


Wipro stock plummets by 12% in early trade and ends the day losing 9.3% of its value at Rs 227.35


In the process Azim Premji, promoter of the company, loses Rs 2,705 crore in one day Premji holds 79.37% stake in the company as per data on BSE website

Source: TimesofIndia


How India’s IT giants are cutting costs

December 12, 2008


Indian IT companies are becoming more innovative in terms of cutting costs and, interestingly, they are now seeking ideas from their employees!

While multi-national companies are on a job-cutting spree, the mantra for Indian companies is ‘cut costs’. From cutting down on snacks, travel, telephone bills, power, stationery bills and even tissue rolls in rest rooms, the going gets tougher for IT

Infosys

Infosys has asked every employee to save $10 dollar each. This would result into a total savings of about $1 million for the company, says S ‘Kris’ Gopalakrishnan, chief executive officer, Infosys.

The company has set up a portal for employees to send ideas on how to cut costs. The move seems to have worked with the company getting over 1,000 ideas in this direction.

Infosys has also offered a sabbatical to employees who have completed two years in service. Employees will get 50 per cent of their salary during the sabbatical. They also have an option of working with NGOs.

“We will have to look at controlling our costs and expenses, making sure that we run an optimised business. We will have to look at what are the things we need to do in order to prepare ourselves for the recovery,” Gopalakrishnan said.

Infosys will freeze recruitment after meeting this fiscal year’s target of hiring 25,000 employees, he said. Infosys hired 16,000-17,000 employees in the first half of the fiscal year.

Infosys has over 100,000 employees.

Tata Consultancy Services

No sabbatical or social work for employees, says TCS. But the company is serious about cutting down on travel, power, communications, and raising employee productivity.

“We are reviewing all our capital expenditure plans. This includes technology acquisition, infrastructure development, and even travel and power expenses,” S Ramadorai, chief executive officer, TCS said.

TCS is planning lower salaries and stricter appraisal norms next year. Many IT firms are calling employees back to India instead of sending them abroad on different projects. This works out to be cheaper for the companies.

TCS has total staff strength of 120,000.

Wipro

Cost-cutting measures at Wipro took an ugly turn with students from engineering colleges protesting against Wipro’s move to employ engineers at the business process outsourcing (BPO) unit at half the salary they had been offered initially.

However, Wipro has now agreed not to change the salary package for those who are asked to join Wipro BPO.

Wipro employs over 95,000 employees.

Satyam

Satyam Computer Services is following in Infosys’s footsteps. It plans a sabbatical for its employees.

Satyam staff may also be given the option of taking up corporate social responsibility activities, at a lower salary. The company may also look at cutting down perks. The company will take a final call on cost-cutting measures after the third quarter results.

Satyam currently employs 52,865 people.

Source: Rediff