Wipro IT job creation slows down

Wipro’s resource addition at 1,469 resources in the first quarter of 2013 was the lowest in the last 12 months.

In the previous three quarters, Wipro added more than 2,000 employees.

In Q2 FY 2013, Wipro added 2,017 employees.

In Q3 FY 2013, the net addition of employees at Wipro was 2,336.

In Q4 FY 2013, Wipro created jobs 2,907.

In Q1 FY 2014, according to a Wipro statement on Friday, it added 1,469 employees.

Despite a lower addition of employees, Wipro said wage hikes for both onsite and offshore employees effective June 2013 have impacted its operating margins in the quarter.

Wipro Chairman Azim Premji on Friday said the IT services firm is poised for double-digit growth in the coming years as the US market is recovering and consumer spending improving.

Revenue of Wipro rose 5 percent to $1.64 billion in the first quarter of FY 2014. In the first quarter ended June 30, 2013, Wipro net income increased 11 percent to $273 million.

Wipro’s IT services revenue rose 4.9 percent y-0-y to $1,588.3 million. IT services EBIT increased 2 percent to $300 million. Operating income from IT services was 20 percent for the quarter.

Meanwhile, Wipro added 2,907 IT and BPO jobs in the fourth quarter of FY 2013. Its headcount in Q4 FY 2013 stood at 145,812 against 142,905 in Q3 FY 2013. Attrition in BPO business reduced to 13.3 percent in the fourth quarter from 14.2 percent in the third quarter.

[email protected]

Related News

Latest News

Latest News