News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay  » Business » Wipro to review compensation factor

Wipro to review compensation factor

By K Rajani Kanth
December 03, 2009 14:50 IST
Get Rediff News in your Inbox:

Image: Wipro chairman Azim PremjiWipro Ltd, a provider of IT solutions and services including systems integration, information systems outsourcing and IT-enabled services, says it has not been affected by the crisis in West Asia and will continue to invest in the region.

Wipro already has a company -- Wipro Arabia, formed in 2007 through a joint venture with the Dar Al Riyadh Group -- providing IT solutions and services in the Kingdom of Saudi Arabia.

In an interview, Girish S Paranjpe, Wipro, joint chief executive officer (IT business), shares with Business Standard the company's placement strategies and its outlook for 2010. Edited excerpts:

How much exposure does Wipro have to the realty sector in West Asia? Has there been any impact due to the recent crisis?

In West Asia, certain sectors, especially realty, have been affected due to the funding by some of the banks. But if you leave that affect, there are many other sectors that are really doing well. And, fortunately, we have virtually no exposure to the realty sector and will continue to make investments in the region.

About 5 per cent of our revenues comes from West Asia and 70 per cent from both Europe and the United States. The crisis in the US... it's kind of past and we are seeing a lot more stability there. The crisis is clearly behind us.

What's your revenue outlook for 2010?

We have a fairly strong guidance for the current quarter. There is clearly a revival in the industry. Most of our customers are at present in the budget-making stage and we hope to know about their budgets by early next year -- around January-February.

At this point in time, without knowing what people's budgets and spendings are, it seems that there may not be further cuts in that. More than anything else, the people behaviour factor itself, I think, will be a big improvement -- that will help in the industry growing faster. We expect 2010 to be a better year than 2009.

What about placements at Wipro?

Last year, we made 8,500 offers. We have promised that all the offers Wipro made will be honoured and we are sticking to that. In the next two months, we will recruit 5,000 graduates and the entire hiring will be completed in the next four months.

Any recruitment plans for the next year?

We will probably start looking at visiting campuses sometime early next year. The number of graduates to be recruited in 2010, however, will be decided only after our clients come out with their yearly budgets and spending plans.

Is the company looking at hiking pay packages and incentives? And what about acquisitions?

I cannot say we may hike salaries, but we will review the entire compensation factor in the next quarter.

With regard to acquisitions, we have to see if it makes sense or not. For us, acquisition is not for aggregation. We are open to such deals across all geographies.

Image: Wipro chairman Azim Premji

Get Rediff News in your Inbox:
K Rajani Kanth
Source: source

Moneywiz Live!