Wipro says may ask some staff to go on leave, no layoffs
The company's CFO Jatin Dalal and President & Chief Human Resources Organisation (CHRO) Saurabh Govil spoke to CNBC-TV18 soon after the company declared its fourth-quarter earnings. "There are many indications to show that the pandemic is worse than the global financial meltdown," said Dalal. "In 15 days alone, due to just the discontinued operations, we have seen a 0.7-0.8% hit to the business". Govil said that the company could look at various options to cut costs. "We will look at if people can go on furloughs and leaves. If sub-contractor costs can come down and if we can deploy people there. We will have to cut costs wherever possible. These are tough times and we may have to take tough decisions." Wipro's fourth-quarter net profit 6 percent sequentially to Rs 2,345 crore. Revenues rose marginally to Rs 15,296 crore. It also suspended its formal guidance citing uncertainty. The outbreak of the novel coronavirus