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Wipro freezes pay, campus hiring uncertain

Source: PTI
April 22, 2009 18:47 IST
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Wipro Ltd, India's third largest software exporter, has frozen salaries for the current financial year and gave no commitment on campus hiring, saying recruitment depended on how business shaped up.

"Outlook for wages and salaries... given the current scenario, we have no plans for increase in the course of the year," the Bangalore-headquartered, New York Stock

Exchange-listed company's executive vice-president, Pratik Kumar said.

On campus hiring in the current fiscal, he said the company would visit the colleges (only) in January-March (unlike previous years when they selected students a year before they got the degree) but gave no firm numbers.

Kumar said campus hiring depends on how business shaped up, adding, it cannot predict a year before about the kind of numbers (hiring) they require. "It's difficult to put a number right now."

According to him, from this year onwards, Wipro would hire students only in their final year, and not a year in advance.

But Kumar said the company would honour the 7,000 campus offers made in the previous year.

Wipro's Chief Financial Officer Suresh Senapaty said the 'striking facet' of the company's performance for the last quarter was that it delivered on all operating parameters.

"We expanded our margins despite the headwinds of reduction in volumes and lower tailwind of forex gains", he said.

Premji said in spite of turbulent times, the company's results have been robust. "We had good deal wins and generated robust pipeline," he said.

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