Wipro has reiterated its commitment to adhere to the contractual agreements it enters into with its employees. At the company’s annual general meeting on Thursday,18 July, Chairman Rishad Premji stated that while Wipro offers numerous opportunities within the company, employees who find better prospects outside are free to leave.
In recent developments, Wipro has sought Rs 25 crore from its former CFO, Jatin Dalal, for breach of contract after he joined Cognizant as CFO immediately after leaving Wipro in November last year. Wipro claimed that Dalal violated conditions that prevented him from working with competitors or recruiting Wipro customers and employees for a year after leaving. Recently, Cognizant paid Rs 4 crore to settle the lawsuit with Wipro.
Premji highlighted Wipro’s entrepreneurial and decentralised mindset, which allows employees to manage their operations. When asked by a shareholder about addressing top-level attrition, Premji responded by pointing out that Wipro has produced many CEOs who have gone on to build other organisations, emphasising that entrepreneurship remains a core value of Wipro.
Looking back at the financial year 2023-24, Premji described it as challenging due to global economic changes that affected clients’ technology spending and market demands. Despite these challenges, he expressed confidence in Wipro’s business and its commitment to future investments. He mentioned that while discretionary spending was low in the first half of the year, there were positive signs in the consulting business in the second half, suggesting a potential recovery.
Premji also noted a significant shift in how businesses view AI, especially Generative AI (GenAI). He reportedly said that AI has gone from being a topic of curiosity to a key part of long-term strategies for creating value, presenting opportunities to reshape industries, enhance efficiencies and foster innovation.
