Wipro signs agreement on European Works Council

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, announced that it has reached an agreement with employee representatives on setting up a European Works Council (EWC).

Wipro's EWC is the first to be established by an Indian headquartered company, and builds upon a number of years of successful, constructive working with Works Councils at local and national level across several European countries, including Germany, the Netherlands, France, Sweden and Finland. The creation of an EWC follows a request by employees under an EU directive establishing the opportunity in companies with more than 1,000 employees across multiple European locations. Wipro's EWC agreement was successfully negotiated with employee representatives from 13 different countries before being formally signed on September 15.

Following the appointment of members according to local rules throughout this year, the first constitutional meeting will take place in Q1 FY 2024 where the EWC will elect its chairman and select committee members, and begin its work to ensure Wipro employees are informed and consulted by management on the progress of the business and any significant decisions that could affect them.

Deepak Parija, Senior Vice President & CHRO, Wipro Europe stated: "Setting up the EWC strengthens the already successful cooperation with employee representations in many European countries. Wipro aims to provide the best employee experience and create an inclusive environment that welcomes everyone and nurtures an overall sense of belonging. The EWC will help us in getting even better as we assimilate employee perspectives on a consistent basis. It also demonstrates that Wipro is applying and adopting European employment standards as a responsible global employer."

With over 75 years of business experience, Wipro is turning big ambitions into bold achievements to create a more humane, sustainable, and resilient future to the benefit of all. Its ambition for an inclusive and equitable workplace includes working with employee representations at all levels and with the European Works Council.

Shares of Wipro Limited was last trading in BSE at Rs. 398.15 as compared to the previous close of Rs. 397.15. The total number of shares traded during the day was 818602 in over 18173 trades.

The stock hit an intraday high of Rs. 401.60 and intraday low of 396.25. The net turnover during the day was Rs. 327313554.00.

Source : Equity Bulls

Keywords

Wipro INE075A01022 WIT Agreement EmployeeRepresentatives EuropeanWorksCouncil