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Friday, January 27, 2023

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Wipro’s total workforce as of December 31, 2022 was 2,58,744. Their voluntary desertion moderated 180 bp with respect to the previous quarter, reaching 21.2% during the last 12 months of the quarter. Thierry Delaporte, CEO and Managing Director, said: “We continue to gain market share as a result of deepening client relationships and higher win rates. Clients turn to us to help manage an evolving macro environment and balance their transformation goals with cost optimization. We improved our margins by 120 basis points and our attrition moderated for the fourth consecutive quarter.”

From smaller startups struggling amid funding crunch to large companies seeing poor revenue guidance amid the recession, the tech industry is seeing massive layoffs. Last week, Google Inc parent Alphabet Inc decided to cut 6% of its total workforce or around 12,000 jobs worldwide, affecting its teams across the company, meaning from engineering to product, through corporate and recruiting verticals. The CEO of Google said that in the past two years, the company has experienced periods of spectacular growth. “To match and fuel that growth, we contracted for a different economic reality than the one we face today.”

The layoffs at Google came two days after Microsoft Corp announced it was cutting 10,000 employees, about 5% of its workforce. The US-based tech giant said it is looking to cut costs amid the looming threat of a global recession. Microsoft CEO Satya Nadella said the company would align its cost structure with revenue and where it sees customer demand.

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