Wipro hired approximately 5,000 people in the last quarter.
Although Wipro recorded a decrease of 1,823 in its workforce on a quarterly basis during the March 2023 quarter, the number of employees increased by 13,793 on an annual basis.
Wipro Hiring Plans for 2023: IT major Wipro, which recorded a net profit of Rs 3,074.5 crore for the January to March 2023 quarter or Q4FY23, saw a decline in the churn rate over the period, as did others like TCS and Infosys. Although the IT company recorded a decrease of 1,823 in its workforce on a quarterly basis during the March 2023 quarter, the number of employees increased by 13,793 on an annual basis. Wipro hired approximately 5,000 people in the last quarter. Here are his hiring plans for 2023:
At a post-earnings press conference, Saurabh Govil, Chairman and Chief Human Resources Officer, said, “The demand environment is active and we will continue to hire core demand. On stocks, we need to improve our uses. We need to look at the whole supply chain for hiring, going forward. As the business picks up and we see growth, we will continue to hire people.”
He added that in the last quarter, Wipro added about 5,000 employees, mostly engineers.
Regarding the decline in headcount in the fourth quarter of FY23, Thierry Delaporte, CEO and Managing Director of Wipro, said, “There is a danger in looking at headcount on a quarterly basis. Three or four quarters ago, we had a big increase in headcount and a drop in our utilization, impacting our margin… On a quarterly basis, you can’t see that impact. We will continue to hire. Also, the attrition is going down, we have to take that into account as well.”
On variable pay, Wipro is organized so that people are paid based on individual unit performance. “Overall it will be above 80%.”
Wipro’s voluntary attrition in the March 2023 quarter decreased by 330 basis points from the prior quarter, reaching 14.1% on an annualized quarterly basis and 19.2% on a year-over-year basis.
As of March 31, 2023, the company’s total workforce stood at 2,56,921 employees.
Wipro reported a net profit of Rs 3,074.5 crore for the March 2023 quarter on Thursday, almost the same as the Rs 3,087.3 crore posted in the corresponding period last year. Its operating revenue from January to March 2023, however, increased by 11.17% to Rs 23,190.3 crore from Rs 20,860 crore a year ago. The net profit is attributable to the shareholders of the company.
The company’s total expenditure in the fourth quarter of FY23 was Rs 19,531.6 crore, higher than Rs 17,457.1 crore a year ago, according to a filing from the BSE.
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