Wipro to Announce Salary Hikes Soon; Attrition Declines, Margins Stable

• Wipro CHRO Saurabh Govil confirmed a decision on salary hikes will be made soon after senior management returns from the World Economic Forum in Davos.
• The company last implemented salary increases in September 2024, making it over a year since the last revision.
• Employee attrition decreased by over 2% in the October-December quarter, with similar levels expected in Q4, indicating improved stability.
• Wipro onboarded 5,400 freshers in Q3 and plans to add 2,000-2,500 more in Q4, aiming for 7,500-8,000 freshers for the full fiscal year.
• Q3 revenue grew 1.4%, with margins improving to 17.6% due to cost control, higher utilization, and better performance in fixed-price projects.

Why It Matters: Wipro is set to decide on salary hikes soon amidst declining attrition and stable Q3 financial performance.