In 2023, the company has so far seen the exits of Chief Operations Officer Sanjeev Singh, Americas 2 CFO Nithin V Jaganmohan, India head Satya Easwaran, iDEAS business head Rajan Kohli, and Americas 1 CFO Kamini Shah, along with Sahni, Haque, and Saxena.
'We had said that they will be onboarded at a higher salary of Rs 6.5 lakh after they completed the training and cleared the assessment," Wipro's HR head Saurabh Govil said.
This applies to employees from the fresher to team-lead bands, while the variable payout at manager level and above will be based on business unit performance
Chief Human Resources Officer Saurabh Govil admits that the process had been delayed but says Wipro will not renege on job offers and will honour all such commitments
Ninety-six percent of Wipro employees will receive salary hikes based on performance and on meeting the eligibility criteria.
Wipro's move to pause variable pay and defend margins comes amid fears of a possible recession in the US
CEO Abidali Z Neemuchwala said he is hopeful of seeing more demand for the digital business. Senior Vice President and Chief Financial Officer and President & Chief Human Resources Officer also weighed in.
The country's third-largest software services firm Wipro on Wednesday said it has hiked wages of its employees by seven percent.
Wipro‘s third quarter profit (from IT services and products business) jumped 5 percent sequentially to Rs 2,203.1 crore. The company‘s IT services revenue rose 3.9 percent to Rs 11,344 crore in October-December quarter and dollar revenues increased 1.3 percent to USD 1.795 billion on sequential basis, beating street expectations.
Software services firm Wipro's second quarter (July-September) net profit declined nearly 1 percent sequentially (up 8 percent year-on-year) to Rs 2,098.3 crore dented by higher tax and finance expenses, and reconciling items. Profit in the previous quarter was Rs 2,118 crore.
The company‘s consolidated profit after tax climbed 4.27 percent sequentially to Rs 2,014.7 crore and revenues grew 3 percent to Rs 11,327.4 crore for the quarter ended December 2013.