Wipro sees its employee strength fall by 6,180 in Q4 in 6th consecutive decline

Bengaluru, April 19 (IANS) IT bellwether Wipro saw its employee strength fall by 6,180 in the fourth quarter (Q4) of FY24, in the sixth consecutive quarter of decline for the company.

When it comes to the full year, the IT services major witnessed its headcount decline by 24,516.

The total headcount for Wipro stood at 234,054 for the last financial year, and the company’s attrition rate remained flat at 14.2 per cent.

"FY24 proved to be a challenging year for our industry, and the macroeconomic environment remains uncertain. However, I am optimistic about the opportunities that lie ahead. We are on the brink of a major technological shift," said Srini Pallia, CEO and Managing Director, Wipro.

"We have the capabilities, leadership, and the strength of over 230,000 Wiproites around the world to help us realise our goals," he added.

According to Aparna Iyer, Chief Financial Officer, the company generated the highest operating cash flow in recent years "which is at 183 per cent of our net income in Q4 and 159 per cent on a full-year basis".

The gross revenue reached Rs 222.1 billion ($2.7 billion), which was flat (quarter-on-quarter). The IT services segment revenue was at $2,657.4 million, an increase of 0.1 per cent QoQ and a decrease of 6.4 per cent YoY.

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