Wipro to quadruple employees in NorwayWIPRO - 408 Change: -5.40 (-1.31 %)
News: Wipro informed exchanges that it is increasing its in investment in Norway to help its clients capitalise on digital transformation. The company plans to increase its employees strength from 85 to 350 within the next two years. They have 95% locally hired workforce currently and are looking to keep this ratio similar in the expanded work force tally as well.
Views: This is in line with expansion being planned by its large peers in the Europe region. Infosys recently mentioned that Europe remains its key focus area amid short-term headwinds in the US region while tech spending in Europe in the foreseeable future will be almost similar to that of US. For Wipro, Europe region contributed 29.8% revenue mix in FY22 vs 27.33% for FY21 while revenue grew 40.8% in FY22.