Premji justifies Wipro top league shuffle

BANGALORE, INDIA: Chairman of Wipro Azim Premji reasserted his earlier stand by stating on Wednesday that the organizational restructuring the company had early this year was implemented with medium- and long-term growth in mind.

“It is much more significant than most people realize,” he said, adding that the company was witnessing early signs of positive momentum after the process was completed.

Wipro’s clients continued to focus on optimizing operations, creating new products and getting access to newer markets, said Premji. “We will continue to make investments that bring superior value to our clients as they try to win in this market.”

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On the issue, executive director and chief financial officer Suresh Senapaty said, “The last part of restructuring happened in January. So, we will have some softness.”

Premji, however, said that there was no significant change in decision-making on IT investments by its clients due to global economic uncertainty.

“The macro economic environment has, however, resulted in some volatility to business and is affecting many growing economies around the globe,” he said at the conference after announcing the first quarter results of the company for FY 2011-12.

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Elaborating on it, the Wipro chairman said that there was uncertainty in Greece, Spain and Portugal, among other markets, which had been adjusting slowly. “Although uncertainty is there in the Middle-East, it’s unlikely to get ignited in Saudi Arabia and Egypt as well.”