Wipro, a prominent global IT company, reported its financial performance for the 4th quarter, January-March 2024 period on April 19.
The company reported a net reduction of 6,180 employees the total headcount at the end of March 2024 was 234,054. The company’s headcount was reduced by 24,516 in FY24. The attrition rate at 14.2 percent on the last-twelve-month (LTM) basis.
Wipro has seen a reduction of 4,470 employees in its headcount for the third quarter of the fiscal year 2024. As of the quarter ending on 31 December 2023, the company’s headcount stood at 2,40,234, down from 2,44,707 in the previous quarter (Q2 FY24).
The attrition rate, which stood at 15.5 percent in the previous quarter, stabilized further and reached a 10-quarter low. The Voluntary attrition has continued to moderate QoQ, coming in at a 10-quarter low of 12.3% in Q3’24.
Recently, Wipro Limited has announced the appointment of Malay Joshi as Chief Executive Officer of Wipro Americas 1 Strategic Market Unit, effective immediately.
In Q4FY24 and FY24, Infosys witnessed decreased hiring compared to previous quarters and fiscal years, reflecting a shifting trend.
Despite a 1.4% year-on-year revenue increase in constant currency. In Fiscal Year 24, the company’s headcount dropped by 25,994 as of the Quarter ended Mar 31, 2023, the headcount was 343,234 and as of the Quarter ended Mar 31, 2024.
In the January-March period, Tata Consultancy Services (TCS) also saw a sequential decrease in headcount by 1,759 employees. The company workforce stands at 6,01,546 as of March 31, 2024.
The FY24 headcount dropped by 13,249 employees and the total workforce stood at 6,01,546 employees as of March 31.
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