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

8-12-2020

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.