Wipro Q1 net additions buck industry trend; more than 15,000 employees hired

Representative image.

Bucking the trend so far pertaining to Q1 additions, Wipro added 15,446 employees in Q1FY23 whereas other companies’ net additions appear to have declined significantly in comparison to Q4FY22.

Tata Consultancy Services added 14,136 new people in Q1, significantly lower than its Q4 net new additions of over 35,000. HCL Tech too added substantially fewer people during the quarter in question at 2,089, from over 11,000 employees in Q4.

Wipro, which had made its highest-ever net addition in FY22 by adding 45,416 employees, had added 12,178 employees in Q1, 11,475 in Q2, 10,306 in Q3 and 11,457 in Q4 of FY22.

Wipro is rolling out promotions quarterly from July onwards to employees up to the mid-management level, and salary hikes will be rolled out in September.

Wipro’s attrition has moderated at 23.3 percent but the company expects it to be above 20 percent for a few quarters. Wipro’s Chief Human Resources Officer Saurabh Govil said that there is a declining trend in attrition.

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.

In this quarter, Wipro hired over 10,000 freshers. However, going forward, the company did not provide targets but said hiring would be demand-driven, and added that there will be no moderation in fresher hiring.