Page 27 - Wipro
Moonlighting a 'question of ethics', says Wipro CEO Thierry Delaporte
Weeks after Wipro fired 300 of its employees for moonlighting, the company's CEO Thierry Delaporte on Wednesday said that while little side jobs were fine, working for a competitor is a "question of ethics". With record-high attrition rates adding to the woes of the Indian IT industry as companies face cost overloads and margin pressures, Wipro reported a marginal dip in attrition rate and said it will pay out 100 per cent variable pay to 85 per cent of the staff. Last month, Wipro Chairman Rishad Premji revealed that some 300 employees were fired as the IT services company has no place for any employee who chooses to work directly with rivals while being on Wipro payrolls. On Wednesday, at the second-quarter earnings press conference, Delaporte said Wipro contracts stipulate not taking up a side job with a competitor. Employees signing up for the company are expected "not only to dedicate time for Wipro but also keep time for themselves and for families," he said. It is "perfectl
 "Moonlighting a 'question of ethics', says Wipro CEO Thierry Delaporte")
Top headlines: India's CPI inflation rises to 7.4%; Wipro Q2 net falls 9%
Business Standard brings you top news of the evening
 "Top headlines: India's CPI inflation rises to 7.4%; Wipro Q2 net falls 9%")
Wipro Q2 results: Net profit declines 9% to Rs 2,659 cr; revenue rises 15%
However, on a sequential basis, the IT firm's profit rose 3.72% in the quarter under review, from Rs 2,563.6 cr in the previous June quarter
Sensex snaps 3-day losing streak, ends 479pts higher; Nifty reclaims 17,100
CLOSING BELL: Power majors - PowerGrid, NTPC along with FMCG and select financial shares were the major gainers in trade among the Sensex 30 on Wednesday.
 "Sensex snaps 3-day losing streak, ends 479pts higher; Nifty reclaims 17,100")
A viral tweet explains how Wipro caught its employees moonlighting
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
 "A viral tweet explains how Wipro caught its employees moonlighting")
Stocks to watch: HCL Tech, Wipro, Suzlon Energy, Indigo, Power Grid, REC
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
 "Stocks to watch: HCL Tech, Wipro, Suzlon Energy, Indigo, Power Grid, REC")
Wipro Q2 preview: Revenue may jump 17% YoY; profit seen dropping up to 6%
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
Wipro asks employees to report to office at least three days a week
The firm's office will remain open for four days each week
Wipro, Infosys, TechM revoke offer letters given to freshers: Reports
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
Are IT stocks a good contrarian bet from a one-year perspective?
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
 "Are IT stocks a good contrarian bet from a one-year perspective?")
India Inc seeks help from law firms to address moonlighting: Report
The companies want law firms to redraft employment agreements, find loopholes and enforce restrictions to address the issue of moonlighting
 "India Inc seeks help from law firms to address moonlighting: Report")
IT shares extend fall; TCS, Wipro, Infy hit 52-week lows on growth concerns
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.
 "IT shares extend fall; TCS, Wipro, Infy hit 52-week lows on growth concerns")
Is the IT industry facing an HR management challenge?
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?
 "Is the IT industry facing an HR management challenge?")
Top headlines: Nestle to invest Rs 5K-cr in India, moonlighting, and more
Business Standard brings you the top headlines at this hour
Firms should not pin down staff: MoS IT Chandrasekhar on moonlighting
He added the days when employees signed up with big tech majors and spent their lives on the job were long gone
 "Firms should not pin down staff: MoS IT Chandrasekhar on moonlighting")
Accenture's outsourcing guidance bodes well for big Indian IT cos: Analysts
Analysts underscored that Accenture's August quarter (Q4FY22) results reflected softening of demand for IT services, and thus remain 'cautious' on the sector
 "Accenture's outsourcing guidance bodes well for big Indian IT cos: Analysts")
Moonlighting: No blanket ban in India though several laws frown upon it
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
 "Moonlighting: No blanket ban in India though several laws frown upon it")
Stocks to Watch: Wipro, SBI, Reliance, SpiceJet, PNB, Sugar, Asian Hotels
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.
 "Stocks to Watch: Wipro, SBI, Reliance, SpiceJet, PNB, Sugar, Asian Hotels")
Moonlighting gets 300 employees at Wipro the pink slip: Rishad Premji
Rishad Premji says moonlighting is a 'complete violation of integrity in its deepest form'
Top headlines: DGCA extends curbs on SpiceJet; Wipro fires 300 employees
The Cabinet on Wednesday approved the national logistics policy, which aims at reducing transportation cost and improve global performance of the sector.
 "Top headlines: DGCA extends curbs on SpiceJet; Wipro fires 300 employees")