In a major rejig of service lines and markets, information technology (IT) services major Wipro on Thursday said it will remodel to a new operating structure to get closer to its global customers.
The changes will be effective January 1, 2021, according to a stock exchange filing.
The Bengaluru headquartered company will replace the current structure of seven strategic business units, service lines and nine geographies with four strategic market units (SMU) and two global business lines (GBL).
Wipro CEO Thierry Delaporte said that the company's growth has been largely dependent on the United States market, and noted that it was important for the company to broad base its growth, as per a PTI report on Times of India, citing an email to employees.
Besides ensuring adequate sector and domain focus in our go-to-market and execution, the new operating model will help drive growth in non-US markets, Delaporte reportedly said.
As per the filing, the four new strategic market units will be labelled Americas 1, Americas 2, Europe and Asia Pacific Middle East Africa (APMEA). While Americas 1 and Americas 2 will be organised by sectors, Europe and APMEA will be structured by countries.
Americas 1, which will include Latin America, will comprise sectors of healthcare and medical devices, consumer goods and life sciences, retail, transportation and services, communication, media and info services, tech products and platforms.
Americas 2, which will include Canada, will comprise a second set of sectors -- banking, securities, investment banking and Insurance; manufacturing, hi-tech, energy and utilities.
Europe will include six regions -- United Kingdom and Ireland, Switzerland, Germany, Benelux, Nordics and Southern Europe.
APMEA will include the regions of Australia and New Zealand, India, Middle East, Southeast Asia, Japan and Africa.
The SMUs in Europe and APMEA will be responsible for all industry sectors in these regions.
The two GBLs are Integrated Digital, Engineering and Application Services (iDEAS); and Integrated Cloud Infrastructure (CIS), Digital Operations (DOP), Risk and Enterprise Cyber Security Services (CRS), acronymed as iCORE.
iDEAS will include Domain and Consulting, Applications and Data, Engineering and R&D and Wipro Digital. iCORE will include CIS, DOP and CRS service lines.
The SMUs are organised by markets and GBLs by capabilities. While the SMUs will own the P&Ls, delivery and practices will be aligned with GBLs, Wipro added.