Wipro Offers 80% Variable Pay for Q2 to Junior Employees, Delays Campus Hiring

19 Oct 2023 , 11:03 AM

Wipro will pay 80 % of Q2 variable pay for junior employees based on company performance, according to Saurabh Govil, Wipro’s Chief Human Resources Officer, announced on October 18 alongside Q2FY24 results. For other employees, the payout depends on business unit performance.

The variable pay structure for the quarter will resemble the previous quarter and will vary by units based on performance.

In an email sent earlier, Govil informed employees that salary hikes would be effective from December 1, despite global market challenges, as per data.

Merit Salary Increases (MSI) will be determined in the following weeks, with evaluations based on current compensation, skills, and performance. Wipro’s salary hike cycle has been delayed by a quarter.

Wipro has experienced a decrease in headcount for four consecutive quarters, with a reduction of 5,051 employees in the September quarter.

The company will not conduct campus hiring due to industry-wide subdued hiring trends. TCS, Infosys, and Wipro have all reported a net decrease in headcount.

Despite onboarding delays, Wipro still has pending offers to freshers from FY22. Hiring decisions are influenced by supply chain factors, demand, and bench strength, and the company plans to honor all outstanding offers before resuming campus hiring.

The primary focus currently is on fulfilling past commitments as the market conditions improve.

For feedback and suggestions, write to us at [e-mail]