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Wipro to fire hundreds of mid-level staff in 2024
Bid To Improve Profit Margins…
New Delhi: Information Technology services firm Wipro on Wednesday said it is ‘aligning’ its talent to the ‘changing market environment’, while responding to media reports on hundreds of job cuts at mid-level in the company to improve margins.
"Aligning our business and talent to the changing market environment is a critical part of our strategy as we look to build a resilient, agile, and high-performance organization," Wipro said in a statement.
The statement said, "We are committed to investing in our people, processes and technology to drive better client and employee experiences and enhance productivity and agility across our organisation to meet fast-evolving client and market needs".
This comes just weeks after the company announced its October to December quarter results, which revealed that its total headcount fell by 4,473 employees. This was the fifth consecutive quarter that the firm experienced a decrease in workforce. The firm's total employee count was 240,234 by the end of 2023.
In November last year, reports said that Wipro might not give salary hikes to "top performers with higher compensation". In an email to the employees, Managing Partner IT Services, Wipro, Nagendra Bandaru, Layoff said they are doing a "selective MSI (merit salary increases) rollout based on our business affordability". He also mentioned that the company will prioritise employees with lower compensation among those eligible for a salary hike.
