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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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.

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.
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.
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