News: Wipro to roll out salary hikes for 80% of its employees from today

Compensation & Benefits

Wipro to roll out salary hikes for 80% of its employees from today

Wipro Ltd will be rolling out a second salary hike of the year for around 80 percent of its employees from today.
Wipro to roll out salary hikes for 80% of its employees from today

The D-day is here! IT services major Wipro Ltd will be rolling out a second salary hike of the year for around 80 percent of its employees from today (1st September, 2021), as announced earlier

The company said it will initiate "merit salary increases (MSI) for all eligible employees up to Band B3 (Assistant Manager and below). The company has previously announced salary hikes for eligible employees in these bands in January, 2021 and all eligible employees above band C1 (Managers and above) will receive pay hikes effective 1st June. 

Meanwhile, its attrition levels jumped to 12% in the quarter to March, which goaded it into action to offer skill-based bonuses, salary hikes for senior leaders in June as well as promotions across the organization. 

Wipro on recently posted a 35.6 per cent jump in June quarter consolidated net profit to Rs 3,242.6 crore, and exuded confidence in logging double-digit revenue growth in FY22 following stellar Q1 performance and robust demand environment.

The Bengaluru-based company had registered a net profit (attributable to equity holders) of Rs 2,390.4 crore in the year-ago period, as per Indian Accounting Standards (Ind-AS). Its revenue from operations rose by 22.3 per cent year-on-year to Rs 18,252.4 crore in the reported quarter.

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Topics: Compensation & Benefits

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