New Delhi, January 31: 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's 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 that 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 to December quarter results, which revealed that its total headcount fell by 4,473 employees. Block Layoffs 2024: Jack Dorsey’s Financial Services Company Block Lays Off About 1,000 Employees, Decision Will Also Affect Staff in Cash App, Afterpay and Square Subsidiaries.

This was the fifth consecutive quarter that the firm experienced a decrease in workforce. The firm's total employee count was 240,234 by the end of 2023. In November last year, reports said that Wipro might not give salary hikes to "top performers with higher compensation". PayPal Layoffs 2024: US-Based Fintech Firm Announces To Lay Off 2,500 Employees Due to ‘Rising Competition’.

In an email to the 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 will prioritise employees with lower compensation among those eligible for a salary hike.

(The above story first appeared on LatestLY on Jan 31, 2024 06:13 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website