News: Wipro to hike wages by up to 15% this year

Compensation & Benefits

Wipro to hike wages by up to 15% this year

Wipro, India's third-largest software services exporter, plans to hike wages by up to 15% this year, following the company's consolidated net profit registered a year-on-year growth of 14% for the fourth quarter ended on March 31, 2011. The raise has been announced as the move would not hurt operating margins.

Wipro, India's third-largest software services exporter, plans to hike wages by up to 15% this year, following the company's consolidated net profit registered a year-on-year growth of 14% for the fourth quarter ended on March 31, 2011. The raise has been announced as the move would not hurt operating margins.

For the India based staff, wages are likely to be hiked by 12-15% and a hike of 3-4% for employees working at client locations. This was confirmed y Investor Relations Head Rajendra Kumar Shreemal soon after the company posted a nearly 14% rise in their quarterly profit.

Azim Premji, Chairman of Wipro, said, “We have made good progress in creating a leaner, simpler and more customer centric organisation structure. We believe our business strategy along with the new structure will deliver industry leading growth.”

The IT services business which contributed around 76% of the company's revenue added 2,894 people this quarter taking the total employee strength to 122,385 as of March 31, 2011. As per the Bombay Stock Exchange filing, Wipro added 68 new customers for the quarter and 155 new customers during the year.

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Topics: Compensation & Benefits, #Updates, #TotalRewards

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