Wipro, an Indian IT services giant, has announced that its employee strength has decreased for the sixth consecutive quarter. According to its financial report for the period of January to March 2024, the company experienced a net reduction of 6,180 in employee strength, bringing 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 more than 27,700 employees.
During a press conference following the quarterly results announcement, CEO Srini Pillai addressed the company’s hiring approach, emphasizing a commitment to honoring previously extended offers before initiating new ones. Meanwhile, the attrition rate remained consistent in the fourth quarter of the fiscal year at 14.2 percent.
These revelations come after Thierry Delaporte’s departure as the 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.
