Bengaluru-based IT major Wipro’s annual revenue run rate crossed $10 billion, a significant milestone for the company. The company also added a record 11,475 people in the second quarter of FY22.
The number of freshers on-boarded were 8,150 in the quarter, higher than the company’s target of 6,000. Its attrition rate zoomed 20.5 percent, from 15.5 percent in Q1 FY22, as the demand for technology professionals increased.
During the earnings call for the quarter ending June 2021, Wipro said it will hire over 12,000 freshers in FY22, up 33 percent from last year FY21.
This is in a bid to address rising attrition and build the supply chain, even as the demand remains robust.
Thierry Delaporte, CEO and Managing Director said, “The Q2 results demonstrate that our business strategy is working well. We grew at over 4.5% organic sequential growth for a second quarter in a row, resulting in a 28% YoY growth in the first half of this financial year. I thank our customers, partners, and colleagues as we surpassed the $10Bn milestone of annualized revenue run rate.”
Taking about attrition, Delaporte said, "One of the issues that we must do even as we build talent at scale is, attrition." According to him, hybrid work is a key part of this.
"We have doubled down on our fresher intake, which was about 8100 young colleagues joining us from campus in Q2. We continue to aggressively build on this and I'm happy to share that we are well positioned to add over 25,000 freshers in the next financial year," he added. The company during the last earnings calls said that it will roll out more than 30,000 offer letters to campus hires this year, who will be joining Wipro in FY23.
Saurabh Govil, chief human resources officer, Wipro, said during the call, "Supply side constraints will not impact our growth, which is a priority for us. If you see, this is the second quarter where a company level we've added more than 10,000 people as a net headcount due to the higher attrition environment. We will continue to look at both freshers and laterals as our strategy. We added 2X freshers this year, and we will further increase it by another 3x in FY23."
Wipro reported $2.58 billion in revenue for the quarter ended September 2021, up 6.9 percent on a sequential basis. The company has guided for the sequential growth of 2-4 percent for Q3 FY22.
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