Taking a tough stand against those involved in moonlighting, IT services giant Wipro sacked 300 employees in September; here's how they caught the moonlighters
Stocks to watch today: HCL Technologies, Wipro will report September quarter results (Q2FY23) on Wednesday, October 12; Suzlon Energy bags 144.9 megawatt (MW) order from Aditya Birla Group
Wipro Q2 results preview: Its margins will likely be weak over the last year, but may improve on a quarterly basis by 20-30 basis points (bps) to 15.3 per cent
The firm's office will remain open for four days each week
Top IT and tech firms like Wipro, Infosys and Tech Mahindra have reportedly revoked offer letters given to students after delaying their joinings by nearly three-four months
Despite the ongoing selloff and the global macroeconomic stress, analysts say that the IT sector still remains a preferred bet from a long-term perspective
The companies want law firms to redraft employment agreements, find loopholes and enforce restrictions to address the issue of moonlighting
In the past two weeks, the Nifty IT index has tanked 10 per cent, as against a 5 per cent decline in the Nifty 50.
Wipro's Rishad Premji recently said that talent, not market growth, was the challenge tech services companies were staring at. What is the cause of these troubles? Is it an HR management challenge?
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He added the days when employees signed up with big tech majors and spent their lives on the job were long gone
Analysts underscored that Accenture's August quarter (Q4FY22) results reflected softening of demand for IT services, and thus remain 'cautious' on the sector
The Factories Act is one such, but its provisions don't apply to firms that don't run a factory; many states have their own laws on the matter
Stocks to Watch Today: In the F&O space, Ambuja Cements, Can Fin Homes, Delta Corp, Escorts, PVR and RBL Bank are in F&O ban period on Thursday.
Rishad Premji says moonlighting is a 'complete violation of integrity in its deepest form'
The Cabinet on Wednesday approved the national logistics policy, which aims at reducing transportation cost and improve global performance of the sector.
Wipro Chairman Rishad Premji on Wednesday said the company had found its 300 employees worked with one of its competitors at the same time, and added that action was taken in such cases by terminating their services. Premji asserted that he stands by his recent comments on moonlighting being a complete violation of integrity "in its deepest form". "The reality is that there are people today working for Wipro and working directly for one of our competitors and we have actually discovered 300 people in the last few months who are doing exactly that," Premji said speaking at AIMA's (All India Management Association) National Management Convention. Asked about the action taken again employees who were found to be working parallely for the company as well as for rivals, Premji, on the sidelines of the event, said that their employment had been terminated for "act of integrity violation". The definition of moonlighting itself is about having another job secretively. As part of transparen
Wipro's leader Rishad Premji and Infosys have warned against practice before
Goldman said it remains 'more sanguine' on EBIT margin forecasts than on revenue of IT firms, given multiple levers such as higher employee utilisation, controls on variable pay and annual wage hikes
The list was made by the state government, after severe flooding in the parts of Bengaluru, to find the names of buildings that have closed nearly 700 drains in the city