Wipro, a Bengaluru-based software business, will employ 38,000 freshers in FY23, more than double the 19,000 it hired the previous fiscal year, owing to high demand for technical services and increased attrition.
In a previous earnings call, the business stated that it aims to employ 17,000 freshers in FY22. In FY23, Wipro plans to hire over 30,000 college recruits. TCS, Infosys, and HCL Tech, its competitors, have also increased their fresher recruiting goals, with 40,000, 50,000, and 45,000 campus recruits planned for FY23, respectively.
As demand for talent increased through the change to digital and attrition increased, the business added 45,416 workers for the year ending March 31, 2022, a multi-fold increase from 14,826 personnel added in FY21. Wipro has a workforce of 2,43,128 workers.
Attrition, on the other hand, is certainly a concerning trend. Attrition at the corporation grew to 23.8 percent in Q4 FY22, up from 15.5 percent at the start of the fiscal year. To reduce turnover, the corporation has transferred its younger staff to quarterly promotion cycles. According to Saurabh Govil, chief human resources officer, they are also laying out a five-year career path for new hires.
Revenue increased by 3.1 percent sequentially and 34.2 percent year over year to $2.72 billion. The corporation brought in $10.4 billion in sales for the year, rising 26.9% over the previous year.
For the quarter ending June 2022, the business expects 1-3 percent sequential increase in IT services.
During the earnings call on April 29, Wipro CEO & MD, Thierry Delaporte said, ‘This is our sixth straight quarter of strong revenue growth at or over 3 percent. We are excited with the addition of Rizing and the CAS Group to Wipro’s service offerings. With all markets, sectors and Global Business Lines now growing in double-digits year on year, we have a strong foundation for next year’s growth’.
In FY23, Wipro signed 37 big contracts worth a total of $2.3 billion.
Jatin Dalal, Chief Financial Officer said in a statement, ‘Our efforts on client mining have resulted in an addition of eight customers in more than $100 Mn bucket on YoY basis. We delivered operating margins of 17.7 percent for the year, after significant investments on solutions, capabilities and talent. Net Income for the year was highest ever at $1.6 billion’.
The corporation has made big acquisitions since Delaporte took over in July 2020. So far, the corporation has completed almost ten acquisitions, including Capco, which cost $1.45 billion, and Rizing, which cost $540 million.