Wipro is India’s third-largest IT services company, but it has been struggling to keep up with its rivals.
Wipro is India’s third-largest IT services company, but it has been struggling to keep up with its rivals. The company reported a 7% decline in revenue for the quarter ending September 30th and announced that it would be cutting 5,000 jobs in an effort to streamline operations. It has also lost $1 billion in market value since January.
The Indian tech giant Wipro reported a 7% decline in revenue for the quarter ending September 30th and announced that it would be cutting 5,000 jobs in an effort to streamline operations. It has also lost $1 billion in market value since January.
What is Wipro?
Wipro, founded by Azim Premji as a pesticide manufacturer in 1945, was one of the first Indian companies to go public on the Bombay Stock Exchange (BSE) in 1977. In 1991, Wipro became a publicly traded company on the New York Stock Exchange (NYSE). The IT services firm now employs over 170,000 people worldwide and generates over $9 billion annually.
