Wipro started the fiscal 24 with a total headcount of 2,58,570. It ended the financial year with a total strength of 2,34,054 employees, down by 24,516 employees. This is also the sixth quarter in a row where closing headcount has fallen for the IT firm.
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While utilization increased to 86.9% in the final quarter of fiscal 23 from 84% in Q3, attrition remained stagnant at 14.2% since Q3. Wipro’s attrition for the full year was 14.2% and its utilization for FY24 was at 84.8%.
Last year, after deferring annual appraisal process by a quarter, data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/wipro-ltd/stocks/companyid-12799.cms” rel=”noopener”>Wipro reportedly skipped giving hikes to some top performers who are in the higher salary bracket in the salary revision process. It also prioritised employees with lower compensation among those eligible for a raise.
In contrast, data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/tata-consultancy-services-ltd/stocks/companyid-8345.cms” rel=”noopener”>TCS headcount declined by 13,249 (2.1% dip) in FY24 from 6,14795 at the start of fiscal 24 to end at 6,01,546. This is also the first time TCS saw an annual headcount dip in last 19 years.
data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/infosys-ltd/stocks/companyid-10960.cms” rel=”noopener”>Infosys ended FY24 with 25,994 fewer employees, down by 7.5%, compared to its headcount at the end of FY23. This is also the first time the company has reported a full-year dip in headcount in over two decades. It concluded the fiscal year with a total employee count of 317,240, falling from 3,43,234 at the start of the year.
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