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Wipro Layoffs: Wipro had acquired consulting firm Capco for $1.45 billion in 2021, making this CEO Thierry Delaporte’s biggest bet. However, as post-Covid growth fell and world economies cooled, the consulting business slowed down as customers curbed spending.
Wipro plans mid-level layoffs at onsite locations to boost profits amid industry competition challenges.
Hundreds of mid-level roles working at Wipro will be trimmed as the IT giant looks to improve margins in the ongoing quarter.
As global economic conditions fluctuated post-Covid, the anticipated growth trajectory faltered, leading to a slowdown in the consulting business as clients scaled back on expenditures.
Wipro is cutting mid-level roles to improve margins. It bought Capco for $1.45 billion, Delaporte's biggest bet. Job cuts are part of the 'Left-Shift' strategy. Wipro underperforms and faces conflicting goals.