Estee Lauder Transfers Majority of IT Contract from Wipro to Accenture

Wipro is set to lose up to $100 million annually as Estee Lauder shifts most of its IT operations, including finance and database management, to Accenture under a new contract. The original $500 million, five-year deal was signed with Wipro in 2021 and is nearing completion. This transition raises questions about Wipro CEO Srini Pallia's growth strategy amid increasing competition and AI-driven industry changes. Neither company has commented on the development.