Aligning business to changing market environment: Wipro as it mulls layoffs

Impact on IT: Bengaluru-based IT major Wipro has said it is aligning business and talent to the changing macroenvironment, as it joins the likes of Google and Microsoft in job cuts.

The company is in the process of cutting ‘hundreds’ of mid-level roles onsite, as per reports.

“Aligning our business and talent to the changing market environment is a critical part of our strategy as we look to build a resilient, agile, and high-performance organisation," Wipro responded to queries on the layoffs.

The company added that it was “committed to investing in our people, processes, and technology” for better client and employee experiences.

The move is also seen as a means to enhance productivity and agility across the organisation, to meet fast-evolving client and market needs, Wipro added. 

 The company had reported a 12 per cent decline in yearly profits at Rs 2,694 crore for the December quarter, with revenue down 4.4 per cent on year at Rs 22,205 crore.

The company saw a decline in headcount for the fifth straight quarter in Q3FY24, dipping by 3,500 fewer employees at a 10-month low attrition as the IT sector faces headwinds.