Nearly 1.5 lakh Wipro staff to get pay hike from December 1

IT industry leader TCS has rolled out salary hikes effective October 1 for all staff. Infosys has announced pay hikes for all employees beginning January next year.
Azim Premji Wipro
Azim Premji. (File Photo: IANS)

New Delhi: IT major Wipro Ltd would raise salaries for nearly 80 per cent of its employees effective December 1 along with promotions for high performers, a reward for ensuring business continuity during the uncertain times of the coronavirus-induced disruptions and the ensuing crisis. The Bengaluru-headquartered software services exporter is reportedly considering rolling out single-digit average salary increment for employees at the B3 and below levels, while the decision on giving hikes to senior staff has not been finalised yet.

At present, Wipro—India’s fourth-largest IT services exporter—employs over 1.85 lakh people and 80 per cent of them would be around 1.5 lakh staff. The company has, however, confirmed that “the increments will be in line with previous years for high performers”, according to a report in the Economic Times. Wipro and many other large IT services companies such as Tata Consultancy Services (TCS), Infosys and HCL deferred salary hikes at the beginning of this year because of the Covid-19 crisis. Of late, the IT major had announced promotions for high performers in bands up to B3 effective December 1.

It is worth noting that Wipro posted a 3.40 per cent year-on-year (YoY) decline in its consolidated net profit at Rs 2,465.70 crore for the second quarter ended September 30, 2020, against a net profit of Rs 2,552.70 crore in the corresponding quarter last year.

“Our employees have shown remarkable resolve and resilience in ensuring seamless business continuity and maintaining high standards of service in these challenging times. The increments will be in line with previous years for high performers. Wipro will continue to take a series of actions to protect critical talent in middle and senior leadership through various measures,” said a Wipro spokesperson in response to the financial daily’s queries.

IT industry leader TCS has rolled out salary hikes effective October 1 for all staff. Infosys has announced pay hikes for all employees beginning January next year and special incentive in December for their better performance.

In October, Infosys—India’s second-biggest software firm—had said that it would offer 100 per cent variable pay along with a special incentive for Q2 and roll out salary increases and promotions across all levels effective January 1 next year.

Many experts are of the view that companies are witnessing a return of near pre-coronavirus level demand for IT services, particularly in the 4-10-year experience segment.

Kamal Karanth, cofounder, Xpheno, a specialist staffing agency, told the publication: “The demand for professionals in that junior to mid-segment has come back. We are seeing demand for IT talent in the 4-10-year space has returned to prehistoric levels. Last month, IT industry’s published job openings were at about 110,000 signalling a return to normalcy”.

Related Posts