Wipro’s employee strength has decreased for the sixth consecutive quarter. As revealed by the IT services giant’s financial report for the period spanning January to March 2024, on 19 April, the company experienced a net reduction of 6,180 in employee strength.
The workforce reduction has brought its total headcount at the close of the 2023-24 period to 2,34,054.
Over the past six quarters, Wipro has witnessed a cumulative reduction of over 27,700 employees. Notably, the most recent decline of 6,180 employees surpasses the decreases seen in the September and December 2023 quarters, which stood at 5,051 and 4,473, respectively.
During a press conference following the quarterly results announcement, CEO Srini Pillai addressed the company’s hiring approach, emphasising a commitment to honoring previously extended offers before initiating new ones. The attrition rate, on the other hand, remained consistent in the fourth quarter of the fiscal year at 14.2 per cent.
These revelations come in the wake of Thierry Delaporte’s premature departure as chief executive officer (CEO) of Wipro.
Similarly, Infosys and Tata Consultancy Services (TCS) also reported declines in their respective workforce strengths. Infosys recorded a net reduction of 5,423 employees, while TCS experienced a decrease of 1,759 employees during the January to March 2024 quarter.
Recently, in response to global economic challenges post-Covid, the company eliminated ‘hundreds’ of mid-level roles at its onsite locations. The move is part of Wipro’s strategy to enhance profit margins, particularly significant as the company faces pressure due to the lowest margins among the top four India-listed IT services firms.
The restructuring primarily focused on mid-level executives stationed onsite, with termination notices issued earlier this month.
