Wipro's attrition for the first quarter of FY23 came in at 23.3%, a slight dip as compared to the last quarter when it was 23.8%. Wipro's attrition has so far seen an uptick and is now showing signs of moderating. Wipro had 2,58,574 employees as of June 30, 2022. The IT services firm announced the results for Q1 on July 20.
During the quarter, Wipro added 15,446 employees, with over 10,000 freshers hired during the quarter. Wipro had made its highest-ever net addition in FY22, adding 45,416 employees.
Wipro has earlier said that it will be rolling out promotions quarterly from July onwards up to the mid-management level, and salary hikes will also be rolled out in September.
Wipro will be announcing promotions quarterly from this month up to the mid-management level. Salary hikes will take place from September.
Attrition has been elevated across the sector, with analysts expecting attrition in the sector to remain above 20 percent. Wipro’s peer TCS’s attrition came in at 19.7 percent, while HCL Tech's stood at 23.8 percent.
TCS had a net addition of 14,136 staff during the quarter, and HCL added 2,089, both of which were significantly lower than their Q4 additions.
CEO Thierry Delaporte said last quarter that the company planned to hire 38,000 freshers in FY23, on the back of increased demand as well as an uptick in attrition.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
