Wipro Hiring Plans For 2023: IT major Wipro, which posted a net profit of Rs 3,074.5 crore for the January-March 2023 quarter or Q4FY23, saw a decline in the attrition rate during the period as did others like TCS and Infosys. Though the IT company recorded a fall of 1,823 in headcount on a quarterly basis during the March 2023 quarter, the number of employees increased by 13,793 on a yearly basis. Wipro hired around 5,000 people during the last quarter. Here’s what hiring plans it has for 2023:
In a post-earnings press conference, Saurabh Govil, president and chief HR officer, said, “Demand environment is active and we will continue to hire basis demand. On inventory, we have to improve our utilisations. We have to look at the entire supply chain for hiring, going forward. As the business comes back and we see the growth, we will continue to hire people.”
He added that in the last quarter, Wipro added around 5,000 employees, mainly engineers.
On the decline in headcount in Q4 FY23, Thierry Delaporte, CEO and managing director of Wipro, said, “There is a danger of looking at headcount on a quarterly basis. Three-four quarters ago, we had a large increase in headcount and lowering our utilisations, impacting our margin… On a quarterly basis, you can’t see this impact. We will continue to hire. Also, attrition is going down, we need to take that also into account.”
On variable pay, Wipro is organised where people get paid based on the individual performance of the units. “Overall, it will be above 80 per cent.”
Wipro’s voluntary attrition during the March 2023 quarter decreased 330 bps from the previous quarter, landing at 14.1 per cent on a quarterly annualised basis and at 19.2 per cent on a trailing twelve-month basis.
As of March 31, 2023, the company’s total headcount stood at 2,56,921 employees.
Wipro on Thursday reported a net profit of Rs 3,074.5 crore for the March 2023 quarter, almost the same as the Rs 3,087.3 crore posted in the corresponding period last year. Its revenue from operations during January-March 2023, however, rose 11.17 per cent to Rs 23,190.3 crore, against Rs 20,860 crore a year ago. The net profit is attributable to equity holders of the company.
The company’s total expenses during Q4 FY23 stood at Rs 19,531.6 crore, higher as compared with Rs 17,457.1 crore a year ago, according to a BSE filing.