IT services major Wipro added 978 employees in the second quarter ended September 30, 2024, a second consecutive quarter of headcount increase signaling that the company is pacing itself for growth.
This comes at a time when Wipro is reassessing its lateral and campus hiring models to focus on improving utilisation rate of existing employees amidst lowering attrition, to grow margins.
Total headcount for the quarter stood at 233,889, this is 10,818 fewer employees YoY from Q2FY24 when the headcount was 244,707.
Sequentially, Wipro's attrition rate increased to 14.5 percent on the last-twelve-month (LTM) basis. In Q1, the attrition rate was 14.1 percent.
Wipro has on boarded over 2,500-3,000 freshers in Q2 and plans to hire around 10,000-12,000 people in FY25 including on and off campus. In Q1, the company had onboarded 3,000 freshers.
According to the management, the company started hiring when the demand came back and will continue to hire based on demand growth.
In Q2, rivals Tata Consultancy Services (TCS) added 5,726 employees, Infosys added 2,456 employees and HCLTech lost 780 employees respectively.
Wipro on October 17 announced 21 percent rise in net profit at Rs 3,209 crore for the September quarter as against Rs 2,646 crore in the year-ago period. The IT major also announced a bonus share issue in proportion of 1:1.
The company's consolidated revenue fell 1 percent on-year to Rs 22,302 crore in the July-September quarter from Rs 22,543 crore in the year-ago period.
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!
