A Wipro official says that more than 90 percent of freshers opt for lower salary

in february this year wipro Freshers asked to consider low starting salary. IT chief wrote a letter to candidates who were offered salary packages 6.5 LPA, asking if they would be willing to join with salary 3.5 LPA. This move created panic in the IT sector.

Jatin Dalal, Chief Financial Officer wipro “The next generation of associates were given both options and 92% of campus hires chose to join Wipro over the original offer”, told the Financial Daily.

The IT major recently announced its fourth quarter earnings. During Q4, the company saw its attrition rate decrease for the fourth consecutive quarter in FY23.

Wipro had a total employee strength of 256,921 as of March 31. Wipro has reduced its workforce by 1,823. The number of employees in the December quarter was 258,744, while the number of employees in the September quarter was 259,179.

Wipro reported a 330 bps decline in voluntary winding up from the previous quarter, landing at 14.1% on a quarterly annual basis and 19.2% on a trailing twelve months basis.

Besides, India’s fourth largest IT company sacked hundreds of new hires in January this year due to poor performance. This year Wipro conducted an internal assessment test in January and the lowest scoring employees were asked to quit. Wipro fired 452 freshers after internal assessment. Late last year, Wipro sacked around 300 employees for working with rival companies on the firm’s payroll.

Meanwhile, the Bengaluru-headquartered company approved the share buyback price 12,000 crores. The company has offered to buy back 269.6 million equity shares for a stake of 4.91%. 445 each, as per the BSE filing.

Azim Premji-backed Wipro posted consolidated net profit 3,074.5 cr in Q4FY23, which is a few cr short of profit 3,087.3 crore in the same period a year ago.

However, Q4 PAT increased by 0.71% 3,052.9 crore in the previous quarter.

“The next generation of associates were given both options and 92% of campus hires chose to join Wipro over the original offer”, Wipro chief financial officer Jatin Dalal told the financial daily.

The IT major recently announced its fourth quarter earnings. During Q4, the company saw its attrition rate decrease for the fourth consecutive quarter in FY23.

Wipro had a total employee strength of 256,921 as of March 31. Wipro has reduced its workforce by 1,823. The number of employees in the December quarter was 258,744, while the number of employees in the September quarter was 259,179.

Wipro reported a 330 bps decline in voluntary winding up from the previous quarter, landing at 14.1% on a quarterly annual basis and 19.2% on a trailing twelve months basis.

Besides, India’s fourth largest IT company sacked hundreds of new hires in January this year due to poor performance. This year Wipro conducted an internal assessment test in January and the lowest scoring employees were asked to quit. Wipro fired 452 freshers after internal assessment. Late last year, Wipro sacked around 300 employees for working with rival companies on the firm’s payroll.

Meanwhile, the Bengaluru-headquartered company approved a share buyback worth 12,000 crores. The company has offered to buy back 269.6 million equity shares for a stake of 4.91%. 445 per each BSE filing.

Azim Premji-backed wipro posted a consolidated net profit of 3,074.5 cr in Q4FY23, which is a few cr short of profit 3,087.3 crore in the same period a year ago.

However, Q4 PAT increased by 0.71% 3,052.9 crore in the previous quarter.