Wipro likely to cut hundreds of jobs to improve margins

Software major Wipro is likely to cut hundreds of mid-level jobs, as the company looks to improve its margins, the media reported.

In a statement to CNBC-TV18, a company spokesperson said, "We are committed to investing in our people, processes and technology to drive better client and employee experiences and enhance productivity and agility across our organisation to meet fast-evolving client and market needs".

The spokesperson also said aligning talent and business to market conditions is an essential part of the firm's strategy, as it aims to create a resilient, agile, and high-performing organisation.

This comes just weeks after the company announced its October-December quarter results, which revealed that its total headcount fell by 4,473 employees.

This was for the fifth consecutive quarter that the firm experienced a decrease in its workforce, with a total employee count of 2,40,234 by the end of 2023.

In November last year, reports said Wipro might not offer salary hikes to "top performers with higher compensation". In an email to employees, the managing partner and president of the 'Enterprise Futuring' business line, Nagendra Bandaru, said they are doing a "selective MSI (merit salary increases) rollout based on our business affordability".

He also mentioned that the company would prioritise employees with lower compensation among those eligible for a salary hike.