Wipro recently merged its two North American subsidiaries, Designit North America and Wipro Designit Services, effective from July 1st.
Additionally, the IT major has deregistered another step-down subsidiary, Attune Australia Pty Ltd, on June 26, 2024. The merger aims to rationalize and consolidate the company's group structure.
While Wipro Designit Services has a turnover of $48 million, Designit North America's turnover stood at $1.6 million as of March 31, 2024. The Australian subsidiary, Attune Australia Pty Ltd, had revenue from operations of AUD 269,554 (Australian dollars) as of March end.
The merger of Wipro's North American subsidiaries, Designit North America and Wipro Designit Services, aims to rationalize and consolidate the company's group structure. By combining their operations, Wipro can achieve greater efficiency, streamline processes, and enhance collaboration between the two entities. Additionally, deregistering the Australian subsidiary, Attune Australia Pty Ltd, simplifies the corporate structure and aligns with strategic goals.
The impact on employees of the merged subsidiaries will depend on the specific details of the merger. Typically, during such consolidations, there may be changes in roles, reporting structures, and responsibilities. Some employees might experience job reassignments or redundancies, while others could benefit from new opportunities within the combined organization. Wipro's management would likely communicate any changes transparently and work to minimize disruptions.
Last year in October, Wipro merged its five wholly owned subsidiaries with itself. The five wholly owned subsidiaries were — Wipro HR Services India Private Limited, Wipro Overseas IT Services Private Limited, Wipro Technology Product Services Private Limited (formerly known as Encore Theme Technologies Private Limited), Wipro Trademarks Holding Limited, and Wipro VLSI Design Services India Private Limited.
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