Between Tata Consultancy Services (TCS), Wipro and Infosys, the three bigwigs of the Indian IT space, it seems that that employees are jumping the ship at a rate faster than ever.

The annual attrition rate at Infosys stood at 18.9%, Wipro average at around 15% and TCS shed nearly 48,000 employees last year, averaging at 14.9% in the last quarter of fiscal year 2015.

Bengaluru: Wipro Ltd may save $300 million (around Rs.1,900 crore today) this fiscal year by using automation and artificial intelligence (AI) in work like software testing, thus reducing the number of people deployed in these basic projects.

The attempt by India’s third-largest software services exporter to save about 20% of its $1.4 billion net income comes after it saved $200 million in 2014-15 by freeing many of its 158,000 engineers from manual, repetitive work in the more than 18,000 projects it does for its customers, two executives said.

BENGALURU: Wipro is rolling out aprogramme that aims to disproportionately reward and incentivise top technical talent irrespective of seniority and designation, replicating a model that International Business Machines and Intel have successfully adopted and made famous.

The nation's third largest software exporter has created a 'fellow' programme that will offer privileges usually given to vicepresident level executives to the selected few, who will be part of Wipro's Distinguished Members of Technical Staff. "Very clearly, these technical career paths that we've created ... are driven by people who are growing without having any people under them," Wipro's global human resources head, Saurabh Govil, said in an interview on Saturday. "That is a new thing we're doing - technical knowledge is driving that."

Vishal Sikka-led Infosys is expected to see a 60-70-basis-point (bps) decline in its operating profit margin as it closes the fourth quarter of FY15 hit by cross-currency movements. At the same time, speculation is mounting that the IT major is close to announcing another acquisition in the digital domain.

Infosys, which will announce its results on Friday in Chennai, is not expected to buck the trend, as witnessed in the quarterly performances of TCS and Wipro, which recorded flattish revenue growth and tepid profits.

BENGALURU: The slump in global energy prices once again hit Wipro's financial performance in the quarter ended March.

The IT services company, which has a higher exposure to the oil & gas vertical compared to its peers, saw its sequential revenue growth drop by 1.2% to $1,774.5 million. In constant currency terms, revenue rose by 1.2%, but that figure was lower than that of TCS's 1.6% and HCL Technologies' 2.7%. It was however well within the company's revenue guidance of 1%-3%.

Markets turned choppy weighed down by pharma shares with Sun Pharma leading the decline while gains in ITC and financials helped offset some of the losses.

At 10:45AM, the 30-share Sensex was down 100 points at 27,786 and the 50-share Nifty was down 33 points at 8,444.

NEW DELHI: Wipro 0.31 % Chairman Azim Premji was today conferred an award by industry body CII for his outstanding contribution to the Indian industry and society.

"Padma Vibhushan Azim Premji was conferred with the CII President's Award at the CII National Conference and Annual Session 2015," the industry body said.

After the recent round of restructuring at Wipro, the company has said it has inducted four new members into its group executive council. The new members include Abid Ali Neemuchwala, the newly-appointed group president and chief operating officer (COO); and Anand Padmanabhan, chief executive and president of the energy & utilities business unit.

The group executive council is a forum comprising Wipro’s core group of senior leaders. It deliberates and frames strategies in line with the company’s long-term vision.

As he retired from India’s third largest IT services firm today, Wipro CFO Suresh Senapaty said the company is ready to grab a larger share of USD 8 trillion global IT spending that will rise further.

Senapaty, who hung his boots at the Bangalore-based firm after 35 years, described his journey as “enriching” and “wonderful”.

After the latest organisational restructuring, Wipro, India's third-largest information technology services company, will see certain changes at the board level. The company will be looking to fill the position that will go vacant with Chief Financial Officer (CFO) Suresh Senapaty retiring on Tuesday.

According to sources within and outside the company, Wipro is going to elevate Chairman Azim Premji's elder son, Rishad, chief strategy officer at present, into the board. An announcement is likely in the coming quarter.

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