Wipro IT: Wipro headcount falls by 9.5% in FY24

The fourth largest Indian IT service firm, Wipro saw its headcount decline by 9.5 % in the fiscal 24. This is the third time in a decade that the IT major saw a full-year decline in its headcount, by ending the fiscal at a lower number compared to the start of the year.
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.

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, 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, 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.

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.