Wipro has rolled out its scheduled salary hikes that it had announced would take place in September, with employees receiving their merit salary increase letter. Some employees have already received this email, and the rest will be sent in the next few days.
In an email to employees, Wipro’s Chief Human Resource Officer Saurabh Govil said that as part of this cycle, 96 percent of Wipro employees will receive salary hikes based on performance and on meeting the eligibility criteria. The email did not detail the quantum of hikes given.
“Despite financial pressures in the last quarter, we have ensured a substantially wider coverage and market-aligned salary increase. This is a reflection of your ongoing hard work and a good indication that our efforts are paying off,” Govil wrote in his email to employees.
Govil’s email said that they are optimistic about future growth.
“We also have internal transformation projects underway to accelerate and simplify our processes that will help drive our operational efficiency and agility, helping us improve our margins,” the email read.
The rollout in September is consistent with the company’s previous announcements. However, these hikes have been delayed by three months, as the previous hikes were effective from June 2021.
The company also announced earlier that promotions were being rolled quarterly to its top performers, up to the mid-management level.
In August, Moneycontrol reported that Wipro had slashed variable pay for its employees, with senior-level employees not receiving their variable pay for the quarter. Junior-level employees received 70 percent of their variable pay.
Wipro at that time said it was not paying out variable pay due to the hit it took on margins, and "as performance improves, gains will be passed onto them."In Q1FY23, Wipro’s operating margin was down to 15 percent.