The Hindu Business Line : Firms up severance package for French unit staff

Bangalore, Oct. 27 Wipro Ltd said it has finalised a severance package in consultation with the French Works Council for its 60 employees at the NewLogic design centre in Sophia Antipolis.

“We have come to an amicable settlement,” said Mr Girish Paranjpe, joint chief executive, Wipro Technologies.

“We have a final offer about what package we are offering, which not only includes monetary compensation, but time for retraining and finding another job.”

Besides, Wipro is also offering intellectual property (IP) free to those employees who would like to build a business of their own, Mr Paranjpe said. The company is also offering its office space free for a year to complete the IPs that are in the process of development, he said.

The semiconductor design centre at Sophia Antipolis came to Wipro through the acquisition of the Austrian firm New Logic in 2005. The centre builds components and connectivity-based semiconductor IPs in wireless and wireline segments.

A weak market has forced Wipro to re-look at its semiconductor IP portfolio. As a result, Wipro had started exploring options to shut down or sell off the design centre, a move that had raised a political storm in France.

The severance package is well accepted and everyone is fairly satisfied with the development, Mr Paranjpe said, adding that it was difficult to put a time frame to conclude the entire process.

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