News: Wipro's 90% new recruits accept half-salary offers, says CFO

Compensation & Benefits

Wipro's 90% new recruits accept half-salary offers, says CFO

The CFO of Wipro emphasised that the company's decision to offer reduced compensation packages to fresh recruits was made with "full fairness and transparency." He clarified that new recruits were given a choice and that the majority of them have accepted the offer.
Wipro's 90% new recruits accept half-salary offers, says CFO

In February, Indian IT services company Wipro made headlines for announcing a 50% cut in salary packages for freshers. The company had initially offered Rs 6.5 lakh per year to new recruits, but cited a "changing macro environment" as the reason for reducing salaries. The decision drew criticism, with many raising ethical concerns about the move.

Business Today reported that Wipro's Chief Financial Officer, Jatin Dalal, stated that 92% of the freshers chose to accept the lower compensation package in order to speed up the onboarding process.

Dalal clarified that Wipro provided the option to new hires to either accept the reduced salary or decline it. He also stated that the company would continue to hire fresh talent as per its business requirements throughout the year.

The Wipro CFO stressed that the decision to decrease the salary packages for new recruits was made with complete fairness and transparency. He further mentioned that the company had given the new joiners the choice to accept the lower salary or not. The majority of the recruits opted for the lower salary package.

As previously reported by Business Today, Wipro informed freshers via email that the reduced compensation package presented an immediate opportunity for them to begin their careers and gain new skills.

"As we work to honour all outstanding offers made, this current offer creates an immediate opportunity for candidates to start their careers, build their expertise and acquire new skills - both through the interesting and innovative work that we do, as well as our extensive learning and development programs," the email read.

Despite the controversy surrounding Wipro's decision to reduce salaries for freshers, the company argues that it was necessary to adapt to changing business needs. Wipro stands by its assertion that the majority of new recruits chose to accept the lower compensation offer, and will continue to onboard associates based on its business requirements throughout the year.

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Topics: Compensation & Benefits, Recruitment, #HRTech, #HRCommunity

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