Wipro's headcount drops 9.5% to 2,34,054 in FY24

This is the third instance in the past decade where the company's headcount decreased over the course of a full year, ending lower compared to the beginning of the fiscal period.

At the commencement of fiscal year 2024, Wipro had a total headcount of 258,570 employees.

However, by the conclusion of the financial year, the company's workforce had reduced to 234,054 employees, representing a decline of 24,516 employees.

It is worth noting that this is also the sixth consecutive quarter where Wipro's closing headcount has declined.

In the previous year, Wipro deferred its annual appraisal process by a quarter and reportedly refrained from granting salary hikes to certain top performers in higher salary brackets during the salary revision process.

Instead, it prioritised employees with lower compensation who were eligible for raises.

On the other hand, TCS reported a reduction in headcount by 13,249 employees, constituting a 2.1% decrease, during fiscal year 2024.

The company's workforce diminished from 614,795 at the onset of the fiscal year to 601,546 by its conclusion. This is the first ever annual decline in headcount for TCS in the past 19 years.

Likewise, Infosys wrapped up fiscal year 2024 with 25,994 fewer employees, indicating a decline of 7.5% compared to its headcount at the conclusion of fiscal year 2023.

This is the first instance in over two decades where Infosys has reported a full-year decrease in headcount, concluding the fiscal year with a total of 317,240 employees, down from 343,234 at the commencement of the year.