Wipro to roll out pay hikes for junior level employees from January 1 - watsupptoday.com
Wipro to roll out pay hikes for junior level employees from January 1
Posted 08 Dec 2020 01:37 PM


Wipro to roll out pay hikes for junior level employees from January 1


India's fourth-biggest outsourcer Wipro is rolling out pay hikes for nearly 80 per cent of its employees effective January 1 along with promotions for high performers, a reward for ensuring business continuity during the uncertain times of the coronavirus-induced disruptions and the ensuing crisis. The Thierry Delaporte-led copany is giving hikes to eligible employees in the junior band (B3 and below) effective January 1. Employees up to the B3 band comprise 80% of its 1.8 lakh employees. All eligible employees at the mid-level (C1 band and above) will receive salary increases effective June 1 next year, the Times of India mentioned in a report. The publication citing sources mentioned that the hikes would be in the range of 6-8% for offshore employees, and 3-4% for on-site staff. Wipro didn’t comment on the quantum of hikes. The overhang of the pandemic has forced IT firms to revisit their appraisal cycles. Wipro’s annual increment is normally effective June. Those in the C1 band and above have missed one cycle. “Our employees have shown remarkable resolve and resilience in ensuring seamless business continuity and maintaining high standards of service in these challenging times. Wipro has announced 100% variable pay linked to business metrics for all employees for both the third quarter (October-December) and the fourth quarter (January-March) of financial year 2020-21,” the company said in response to TOI’s query. The company had given 100% variable pay to its employees for the July-September quarter. The Bengaluru-based company reported 3.15% rise in its net profit at Rs 2,465.7 crore for the three months ended September 30, 2020. Wipro shares closed 0.65% lower at Rs 358.45 apiece on Monday. It has delivered 46% return in this year so far.

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