Wipro workforce shrinks for sixth quarter in a row with net decline of 6,180 employees in Q4.
Wipro's Q4 results show sixth consecutive decline in employee count. CEO departure, attrition rate, and peer companies' drops noted.
Wipro's employee count continued its decline for the sixth consecutive quarter, as revealed by the financial results for the January to March 2024 period released on April 19. During this quarter, the company experienced a net decrease of 6,180 employees, bringing its total headcount for the 2023-24 period to 234,054. Over the past six quarters, Wipro has seen a total reduction of more than 27,700 employees. The latest decrease of 6,180 employees is notably higher than the reductions observed in the September and December 2023 quarters, which were 5,051 and 4,473, respectively.
The attrition rate, indicating the rate at which employees are leaving the organization, remained unchanged at 14.2% in the fourth quarter compared to the preceding quarter. These results come shortly after Thierry Delaporte stepped down as Chief Executive Officer (CEO) of Wipro before the completion of his term. Wipro's counterparts Infosys and Tata Consultancy Services (TCS) also reported decreases in their workforce. Infosys saw a net reduction of 5,423 employees, while TCS experienced a decline of 1,759 employees in the January to March 2024 quarter.
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