Wipro Q2 results: 'Will honour past offers before going to campuses,' says CHRO

IT services major Wipro will honour all offer letters made to candidates awaiting onboarding at the company before visiting campuses to hire freshers, the company’s Chief Human Resources Officer Saurabh Govil said on Wednesday at a post-Q2 earnings' press conference.

Govil said: “We will make sure we honour every offer letter we have made. There are still some people left to be onboarded and we will be doing that as we move forward. That's our intent, and we will be adding people in the upcoming quarters.

Although the CHRO did not disclose the number, several candidates with a job offer from Wipro have been awaiting onboarding at the company since September 2021.

The Indian IT major has slowed down its hiring plans and has witnessed a headcount decline for the fourth consecutive quarter in Q2FY24. The net headcount of the company went down by 5,051 employees. The company's headcount stands at 2,44,707 at the end of the September ended quarter.

The IT services company’s attrition came in at 15.5 per cent in Q2, down from 17.3 per cent in the previous quarter.

The company also noted that their bench size has reduced in the past quarter. Net utilisation, excluding trainees, came in at 84.5 per cent this quarter, up from 83.7 per cent.

Wipro reported a sequential drop in revenue in the September ended quarter. The IT major’s gross revenue came in at Rs 225.2 billion, $2.7 billion, which is a decrease of 0.1 per cent from the year ago quarter.

The IT services segment revenue was at $2,713.3 million, a decrease of 2.3 per cent QoQ. The Non-GAAP constant currency IT Services segment revenue decreased 2.0 per cent QoQ. Consolidated net profit at the company fell to Rs 2,646 crore in the quarter, from Rs 2,659 crore a year ago. The company’s EBIT margins were 16.1 per cent.

Thierry Delaporte, CEO of the company noted, “Against a challenging environment, we continue to take the bold decisions needed to realize our long-term ambitions. We are investing in our technology infrastructure and streamlining our operations and delivery to drive profitable growth. We are training and reskilling our people so they can be ready for an AI-driven future.”

The CEO noted that 1,80,000 employees have been trained with AI skills under the company’s ai360 strategy.