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Wipro Soars on Outsourcing

Systems integration and outsourcing services firm Wipro Ltd. (NYSE: WIT) is raking in the bucks as more telecom companies move jobs overseas (see Wipro Records Profit).

There are some who doubt the wisdom of sending jobs overseas, but companies such as Wipro, and its main rivals in India, Tata Consultancy Services and Infosys Technologies Ltd., are clearly profiting from the practice.

Wipro, which counts Cisco Systems Inc. (Nasdaq: CSCO) and Nortel Networks Corp. (NYSE/Toronto: NT) and numerous operators among its customers, increased its earnings per share for the year ended March 31 by 23 percent to 43.2 rupees (about US$1.00).

Get the details at Boardwatch.

— Ray Le Maistre, International Editor, Boardwatch

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euler 12/5/2012 | 2:01:45 AM
re: Wipro Soars on Outsourcing Wall st. will start rewarding companies that increase outsourcing just like they reward companies that announce layoffs. The current reports in the press that indicate outsourcing will eventually benefit our economy fail to mention that the current and next generation of technology workers will suffer like the factory workers of the 70's and 80's.
truelight 12/5/2012 | 2:01:43 AM
re: Wipro Soars on Outsourcing Well Wipro will improve in price.

There's no jobs for the USA coming from this company. Do they employee US citizens or do you have to be Indian to get in the door.

Similiar to Chinese companies this is a new form of form of techonolgy racism that is emerging - just a thought.
zoinks! 12/5/2012 | 2:01:42 AM
re: Wipro Soars on Outsourcing Technology racism is nothing new ... in prior companies I've worked for, I've seen;
1) university bias -- managers with MIT degrees that would hire only MIT graduates, even when we had demonstrable proof that his past MIT hires were useless
2) Chinese managers that would hire only Chinese engineers ... and "seemed" to layoff only the white engineer (I know thats a big accusation)

Your mileage may vary.

Zoinks!
Phoneman 12/5/2012 | 2:01:41 AM
re: Wipro Soars on Outsourcing More and more companies are outsourcing which on the surface looks great as far as the short term bottom line is concerned, but what about the long term effects on the U.S. economy. What kind of a future are we building for our children here in America?
brahmos 12/5/2012 | 2:01:40 AM
re: Wipro Soars on Outsourcing Tata consultancy crossed it in April02 and Infosys reported it last week.

the fiscal year in india is April02-March03.

http://www.ciol.com/content/ne...

http://www.thestandard.com/art...

each of them are improving their per-employee revenue I think and recruiting something like 5000 people every year.

the global majors like IBM, HP, Accenture are also
forced to relocate and ramp up hugely in India
to respond to the cost pressures, so its a win
for India there too on the new jobs :)

brahmos 12/5/2012 | 2:01:39 AM
re: Wipro Soars on Outsourcing http://www.infoworld.com/artic...

BANGALORE, INDIA -- Infosys Technologies Ltd. said Thursday that it is investing $20 million into a business consulting subsidiary in the U.S., which will be managed by four former senior executives of global consulting firms.

.....

Infosys Consulting is being led by CEO Stephen Pratt, who until recently was the global leader of the customer relationship management (CRM) practice at Deloitte Consulting, the business and IT consulting division of accounting giant Deloitte Touche Tohmatsu.

The new company plans to hire 75 consultants in the U.S. in the first year. "Because of the restructuring in the consulting industry in the U.S., a lot of staff are willing to move over," said Pratt. "We plan to hire from the top 10 percent performers from the leading consulting firms."

Besides Pratt, Infosys Consulting has as its managing directors: Romil Bahl, formerly vice president of consulting services at Electronic Data Systems Corp.; Raj Joshi, previously CEO of Deloitte Consulting Offshore Technology Group; and Paul Cole, formerly head of the global operations of Cap Gemini Ernst & Young's CRM practice

.....

========
question is after decades of looking at indians
and chinese as "inferior people" (untermenshen)
will americans be "open" enough to work for new
masters and dance the same dance they do for
eu/japan/us bosses ?

kamalpr 12/5/2012 | 2:01:38 AM
re: Wipro Soars on Outsourcing India has a non-discriminatory policy towards whites who want to take up jobs in India.

There are about 30,000 americans working in India -and there is no cap or restriction of any sort. Your employment is strictly between you and your employer -with govt having nothing to do with it.

I have worked in the US for Indian companies -and I know they have a non-discrimatory attitude. I also believe they actively seek people of Indian origin because the compensation and comfort level with that employee will be more to their liking.

OH btw -I came across an idiot from MIT at my workplace and that gives me reason to believe its much ado about nothing.

regards
-kamal
truelight 12/5/2012 | 2:01:33 AM
re: Wipro Soars on Outsourcing Pelease Kamalpr, I did not get of the banana boat...

The policy is not practised. If so have someone in Wipro publish the number of non-Indian versus indian employees.

Everyone knows that living standard in India is not as good as that in the USA to put it mildy.

My point of technology racism is that offshoring while boosting the India economy is denting the US hi-tech with little room for movement. I'm not Indian....but understand the high caliber talent of folks in India and the business drivers - I would do these same if I was Indian.

IMO I see the US tech-industry bogged down in a quagmire which will ultimatley effect other countries.

dadofamunky 12/5/2012 | 2:01:33 AM
re: Wipro Soars on Outsourcing Speak for yourself. Many of us Americans have never done that. After working cheek by jowl with many of these people for years I have nothing but respect for most of them. Not only that, I have learned how to play Ping Pong from some of them! :) I have also worked with groups of people whom we use for offshore development in Bangalore and liked them to a man. I also think Indians have just as much right to compete and profit from the system as we do.

Not liking to see one's livelihood shipped overseas does not necessarily equate to racism.

You should apologize. A stupid generalization.


========
question is after decades of looking at indians
and chinese as "inferior people" (untermenshen)
will americans be "open" enough to work for new
masters and dance the same dance they do for
eu/japan/us bosses ?
telecomvalleydotnet 12/5/2012 | 2:01:31 AM
re: Wipro Soars on Outsourcing Now why the hell would I want to go to work in India? Get a lower wage, and live in a dirty scummy place? Yeah sounds like a great idea.

Outsourcing is wrong and we should boycott these large companies taking advantage of the poor countries, and taking our jobs away from us! HP and IBM are the worst with this.
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