It seems that executives working for IT outsourcing outfit Wipro are dead keen to clear out their desks and collect their P45s.
According to the Times of India, one in five of its 500 senior executives have either quit or are looking for new jobs since the new CEO took over.
The figures are based on reports from head-hunting and recruitment agencies, who claim that they have their paws on dozens of vertical/domain and business heads at Wipro.
One claims to have received 52 job applications from Wipro employees in the 8-20 years of experience range in the last month.
More than 40 have quit the company in the past few weeks. This adds up to 100 staff members.
Apparently the managers are fairly sure that everything is going to go pear shaped and their jobs might not be there soon.
New CEO, T K Kurien has apparently been seen sharpening an axe and muttering “I’ve got him on a list”, and has been conducting an internal review.
The target appears to be heads. Delivery heads, vertical heads and business units heads so heads are almost certain to roll.
Figures for the galley slaves is likely to stay the same with only small reductions. It seems that unlike many outfits, Wipro is blaming its lackluster performance on its managers.
Apparently this sort of change has not been seen at Wipro before and certainly it is all happening fast, too fast for some managers.