Скачать или смотреть Freshers Fired at Infosys Wipro Reject Freshers | Recession in IT 2023 Revoke offer letters

IT companies including Wipro, Infosys and Tech Mahindra have reportedly revoked the offer letters of many candidates after delaying their onboarding process for months. According to reports, hundreds of freshers who had received offers from the tech giants have seen their offer letters rescinded after a delay of around 3-4 months in the onboarding process.

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Geopolitical risks: Like other IT companies, geopolitical risks are one of the prime reasons for the fall in Wipro's share price. Wipro earns about 90% of its revenue from the US and Europe. Any political or economic risks in these regions will impact the company's business.
Gross margins are down: Wipro has made many acquisitions in recent years which have affected the company's gross margins. If you look at its last eight quarters' margins - you will notice a decline of over 600 bps which is impacting the company's share price. Acquisitions like Capco and Rizing have led to a big reset at gross margin level.

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