Wipro Concludes Q3 with a Reduction of 4,473 Staff Members; Headcount Declines for the Fifth Consecutive Quarter

15 Jan 2024 , 11:50 AM

Wipro, a Bengaluru-based IT company, recorded a fall in its workforce for the fifth straight quarter, ending the December quarter with 4,473 fewer employees than the previous quarter.

Wipro’s headcount is 240,234, according to its third-quarter statistics, which were announced on January 12.

Following this development, Wipro hit a new 52-week high of Rs 529.

At around 11.46 AM, Wipro was trading 6.75% higher at Rs 496.85, against the previous close of Rs 465.45 on NSE.

Wipro began reducing its staff in the third quarter of the previous fiscal year, after adding 577 personnel in Q2FY23.

Saurabh Govil, Chief Human Resources Officer at Wipro, expressed confidence in the company’s growth potential, stating, ‘We are well-equipped to expand, and we will sustain our growth whenever demand arises. Currently, we are actively recruiting for specific skills and technologies.’

Wipro’s attrition rate was 14.2% during the last twelve months, down from 15.50% the previous quarter.

When questioned about talent acquisition, Govil mentioned, ‘We have an existing talent pool, and as demand arises and specific requirements emerge, our initial approach will be to tap into this internal resource before exploring other options. That’s our strategy for the hiring process.

Wipro has not been backfilling all attrition, especially if personnel are on the bench, and is working to increase utilization levels. However, net utilization, excluding trainees, fell to 84% this quarter, down from 84.50% in December.

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