Tech layoff: Wipro fires 120 employees in US over 'realignment of business needs'
In the last few months several IT companies have undertaken mass layoffs and cost-cutting measures fearing recession. Wipro, a prominent IT company, has joined major companies like Meta and Twitter by announcing layoff of 120 employees in the United States. Wipro in a statement said that it was an isolated incident and the decision was taken for realignment of business needs.
The company in the statement said that over 100 employees that were impacted in the layoff were processing agents. According to media reports, those on the list of fired employees also included team leaders and team managers.
The company said that it was a singular occurrence and the company is committed to the Tampa region. Wipro also confirmed that the layoff will not impact on the rest of the company's workforce in the Tampa region of the United States. The company is expected to begin the layoffs in May.
Wipro has close to 20,500 employees located in US, Canada and LATAM (Mexico and Brazil), whereas globally the tech giant has employed over 2,50,000 workers across 66 countries. Earlier this month the company announced the opening of its headquarters in East Brunswick, New Jersey. The American region contributes close to 60 per cent of Wipro's global revenues.Wipro allots over 1 lakh shares as restricted stock unit
Wipro fires 400 freshers
Earlier this month the IT company laid off close to 400 freshers for poor performance. The company has also asked campus hires to join the company with lesser pay, creating a lot of uncertainty among the new hires.
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