Wipro total headcount down by 435 employees and attrition eases to 21.2% in Q3

Wipro saw a reduction of 435 employees in the October to December 2022 period from the previous quarter while its voluntary attrition rate moderated to 21.2 percent after at least four quarters, the tech giant’s financial results for the third quarter of the fiscal showed on Friday.

The firm’s total headcount at the end of the December quarter slipped to 258,744 from 259,179 in the last quarter, in which it had seen a net addition of 605 employees. Meanwhile, voluntary attrition moderated 180 bps from the previous quarter in which it stood at 23 percent.

The IT firm also claims to have given several of its employees salary hikes and incentives. Jatin Dalal, Chief Financial Officer, said, “Our Operating margins are now at 16.3 percent, which is an expansion of 120 basis points from last quarter. This expansion of margins was after absorbing the investments we made in our people by way of salary increases, promotions and long-term incentives for our senior leadership."