The step-down subsidiary Designit North America, Inc. Indian IT giant Wipro merged with Wipro Designit Services, Inc.

The completion of the merger is set to take effect on July 1, according to the Indian IT major.

Effective June 26, 2024, the Bangalore-based company also de-registered Attune Australia Pty Ltd, its step-down subsidiary.

Wipro is looking to merge two of its North American wings to rationalize and consolidate the group structure within.

As of March 31, 2024, Designit North America, Inc. had a turnover of 1.6 million, compared to Wipro Designit Services, Inc.'s $48 million.

As of March 31, 2024, the Australian subsidiaries' operating revenue was $269,554 in local currency.

The IT company led by Azim Premji announced last year that five of its wholly-owned subsidiaries would merge with parent Wipro Ltd.

The company cited the ability to reduce overhead costs, including managerial, administrative, and other expenses, and the ability to create synergies in operations through the consolidation of business operations.

In the company's 2023–24 annual report, which was just published, Wipro chairman Rishad Premji stated, "FY24 has unquestionably been one of the most challenging years in our company's history."

According to him, the company's clients' technology spending has been impacted by the unstable state of the global economy.

In the past year, Wipro has experienced significant internal changes, such as the appointment of new CEO and MD Srini Pallia in April and poor revenue and business growth in comparison to its competitors.