Wipro, an IT business with headquarters in Bengaluru, will pay eligible workers annual raises in their wages in September for the fiscal year ending in 2022. 96% of its employees should be covered by the domestic IT company.
Details on Wipro announced a pay rise for workers beginning on September 1; 96% of the workforce will benefit
The internal message, which Wipro’s chief human resources officer Saurabh Govil sent, is as follows: “Despite financial pressures in the last quarter, we have ensured a substantially wider coverage and market-aligned salary increase.”
Furthermore, it said that “You will receive your MSI letter from your manager over the next few days. The salary increases in this cycle cover about 96% of all Wiproites based on performance and meeting eligibility criteria.”
The Economic Times reported that the remaining 4% of employees might be individuals who are on sabbaticals or longer absences, and the remaining staff will receive raises in addition to their September salaries.
Managers and above-earned salary raise started in June of last year, but this year, raises didn’t start until September for employees in the C1 band and above.
For the quarter that ended in June, Wipro had already chosen to withhold variable pay from its mid- and senior-level executives. On the other hand, younger and lower-level employees will receive variable compensation following a 30% reduction. The IT company claimed in an email that operating margin pressure was to blame for the variable compensation reduction.
According to reports, Wipro informed its senior and C band employees via email that they would not be receiving any variable rewards. However, the email stated that by the end of August, workers in the A and B bands will have received 70% of the intended dividend.
Wipro said that the wage increase would not change and that it will take effect on September 1st in the same email.
