Indian IT giant Wipro losing staff; attrition as high as 14%
By Tarry Singh at 28 October, 2009, 9:32 am
Bangalore: There seems to be no impact of the economic slowdown on the Wipro employees, the company has witnessed an attrition rate of 14 percent, with voluntary attrition going up to 10.5 percent and involuntary attrition to 3.1 percent in the same period.
Wipro on Tuesday projected an earning of $1.11 billion from IT services for third quarter (October-December) of this fiscal (2009-10), as revenue for second quarter (July-September) at $1.06 billion was higher than the guidance of $1.03 billion.
“We expect revenues from our IT services business to be in the range of $1.09-1.11 billion in the third quarter, as we see more stability in volumes and pricing,” Wipro Chairman Azim Premji said in a statement here.
In a regulatory filing earlier, the IT bellwether said net profit for the second quarter increased by 19 percent year-on-year (YoY) to Rs.11.62 billion, as per the Indian accounting standard.
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