IT biz somewhat recession proof: Rishad Premji

Bengaluru: Wipro chairman Rishad Premji said the technology services industry, at some level, is recession proof. He was speaking at the company’s 76th annual general meeting on Tuesday.
“In good times, clients spend on new initiatives and business transformation and serving customers digitally. They focus on using tech to reduce costs when times are not so good,” he responded to a question on inflationary concerns.
Wipro CEO Thierry Delaporte said that attrition has moderated in the last few quarters and the downward trajectory is “comforting”."Attrition has been a reality for every company in our industry. Given the high demand driven from digital transformation, and development of new operating models across industries, the demand for talent has accelerated the volume of attrition,” he said.