In a recent development, Wipro, a leading IT services provider, reported a marginal decline in its workforce by 1,157 employees during the third quarter. This shift comes after two consecutive quarters of workforce expansion. As of now, the company’s total employee strength stands at 232,732.Wipro’s Attrition Rate Sees a Slight UptickThe company’s attrition rate on a last-twelve-month (LTM) basis has increased to 15.3%, up from 14.5% in the previous quarter. This development has prompted Wipro to reassess its lateral and campus hiring models. The primary focus is on enhancing employee utilization rates and reducing attrition to drive margin growth.A Yearly Comparison Reveals a Significant DeclineCompared to the same period last year, Wipro’s total employee strength has decreased by 6,923 employees. This downward trend is attributed to the company’s efforts to optimize its workforce and improve operational efficiency.Freshers Onboarding: A Positive TrendEarlier this year, Wipro onboarded a significant number of freshers. In the second quarter, the company welcomed between 2,500 and 3,000 new recruits. Additionally, Wipro onboarded another 3,000 freshers in the first quarter ending June. This influx of new talent is expected to contribute to the company’s growth and innovation initiatives.Wipro’s Financial Performance: A Mixed BagWipro Ltd reported a 4.5% quarter-on-quarter increase in net profit, totaling Rs 3,354 crore. Although this figure exceeds market estimates, the company’s revenue remained flat at Rs 22,319 crore during the October-December 2024 quarter.Reaction from a employee who lost the job:“I’m still trying to process the news. One day, I’m working on a project, and the next, I’m being told that my services are no longer needed. It’s like a punch to the gut. I’ve dedicated years of my life to Wipro, and this is how it ends? It’s not just about the job; it’s about the relationships, the camaraderie, and the sense of belonging. I’m worried about my future, my family’s well-being, and how I’ll make ends meet. I understand that the company has to make tough decisions, but it’s hard not to take it personally. I feel like I’ve been a loyal and hardworking employee, and this is the thanks I get? It’s demoralizing, to say the least. I’m not sure what the future holds, but I hope that Wipro will take care of its former employees and provide us with the support we need during this difficult time. I’m also concerned about the impact this will have on the remaining employees. Morale is already low, and this will only make things worse. I hope the company will take steps to address the concerns of its employees and work towards creating a more positive and supportive work environment. As I move forward, I’m trying to stay positive and focus on the opportunities that lie ahead. But it’s hard not to look back and wonder what could have been done differently. I hope that Wipro will learn from this experience and work towards creating a better future for its employees.” Soumik Ghosh, Production specialist.Interim Dividend AnnouncementWipro has declared an interim dividend of Rs 6 per share, as per a regulatory filing on Friday. This move is expected to boost investor confidence and reflect the company’s commitment to sharing its profits with shareholders.As Wipro navigates the complexities of the IT services landscape, the company remains focused on driving growth, innovation, and operational efficiency. Despite the slight decline in headcount, Wipro’s efforts to enhance employee utilization rates and reduce attrition are expected to yield positive results in the long run.
By Anusmita Bhatta
Reporting for True To Life News Media Pvt. Ltd.