Wipro has revealed that the company has huge plans for future hiring for the Indian IT services provider. The company’s board has also approved a share buyback worth Rs. 9,500 crore. Wipro Has Robust Hiring Plans For The Second Half Of FY; To Hire Candidates With These Skills. Wipro has revealed that the leading IT services company in India has “robust” hiring plans for the upcoming second half of the financial year.
The company is planning to get onboard freshers and laterals during the third and fourth quarters as well. While he didn’t specify the magnitude of hiring, he did say that the hiring will be across the US, Europe, and India. The company will be looking for candidates skilled in new-age technologies like artificial intelligence (AI), digital, and the internet of things (IoT).
Quite recently, Wipro had announced that employees who deliver high quality performance will be awarded with promotions in December. Promotions for the high performers will be handed out in bands up to B3. Employees in bands up to B3 account for about 80% of the company’s workforce. As the total employee strength in Wipro is more than 1,80,000, and 80% of this means 1,45,000 employees of Wipro.
Wipro To Buyback Shares Worth Rs. 9500 Crores
Wipro’s board has also given the green signal to approve the share buyback worth Rs. 9500 crores as a part of the September quarter results on Tuesday. As much as 237.5 million equity shares or 4.16 per cent of the total paid-up capital will be bought by the Bengaluru based Wipro. As per reports, this buyback will be made from the existing shareholders under the tender-offer route on a proportionate basis. This was revealed from an exchange filing. Also, the price of the repurchase urchase has been fixed as Rs 400 per share and it is at a 6.25 per cent premium to Tuesday’s close.