Wipro signs agreement on European Works Council

The IT major announced that it has reached an agreement with employee representatives on setting up a European Works Council (EWC).

Wipro's EWC is the first to be established by an Indian headquartered company, and builds upon a number of years of successful, constructive working with Works Councils at local and national level across several European countries, including Germany, the Netherlands, France, Sweden and Finland. The creation of an EWC follows a request by employees under an EU directive establishing the opportunity in companies with more than 1,000 employees across multiple European locations. Wipro's EWC agreement was successfully negotiated with employee representatives from 13 different countries before being formally signed on 15 September 2022.

Following the appointment of members according to local rules throughout this year, the first constitutional meeting will take place in Q1 FY 2024 where the EWC will elect its chairman and select committee members, and begin its work to ensure Wipro employees are informed and consulted by management on the progress of the business and any significant decisions that could affect them.

Deepak Parija, senior vice president & CHRO, Wipro Europe stated: "Setting up the EWC strengthens the already successful cooperation with employee representations in many European countries. Wipro aims to provide the best employee experience and create an inclusive environment that welcomes everyone and nurtures an overall sense of belonging. The EWC will help us in getting even better as we assimilate employee perspectives on a consistent basis. It also demonstrates that Wipro is applying and adopting European employment standards as a responsible global employer."

Wipro is a leading technology services and consulting company focused on building innovative solutions that address clients' most complex digital transformation needs.

Wipro's consolidated net profit rose 3.72% to Rs 2,659 crore on 4.7% increase in revenue form operations to Rs 22,539.7 crore in Q2 FY23 over Q1 FY23. On a year on year (YoY) basis, the IT firm's net profit declined 9.27% while revenue jumped 14.6% in Q2 FY23.

Shares of Wipro rose 0.25% to Rs 398.15 on Wednesday, 16 November 2022.

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