Amid layoff and cost-cutting measures, Wipro is reportedly mulling to not give salary hikes to 'top performers with higher compensation'. Though an official confirmation is awaited, reports claimed that the company is expected to skip salary hikes in its largest business line in the upcoming round of salary revisions in December. The news was first reported by Reuters.
In an email to employees, the managing partner and president of the "Enterprise Futuring" business line, Nagendra Bandaru, said they are doing a selective MSI (merit salary increases) rollout based on our business affordability. He also mentioned that the company will prioritise employees with lower compensation among those eligible for a salary hike.
Employees will receive their increased salaries on December 1.
Wipro Enterprise Futuring is one of four global business lines established by the Bengaluru-based corporation as part of an organisational restructuring in April of this year. The division is in charge of large-scale digital and technological change for businesses.
Wipro had already postponed its salary hike cycle. As of September 30, the company has 244,707 employees.
Meanwhile, Wipro has announced a consolidated net profit of Rs 2,667.3 crore for the quarter ended September 30, 2023, against Rs 2,649 crore in the same quarter last year. The revenue from operations in the second quarter of the current fiscal stood at Rs 22,515 crores.
(With IANS inputs)
