IT services major Wipro plans to start paying salary hikes to 80 percent of its employees effective September this year, the company said on Friday. This is the second time this year that the multinational corporation has hiked the salaries.
"Wipro Limited will initiate merit salary increases (MSI) for all eligible employees up to Band B3 (Assistant Manager and below), effective September 1, 2021. In January 2021, the company had announced salary hikes for eligible employees in these bands, who form 80% of the company’s workforce – this is the second hike in this calendar year,” the firm said in a statement.
Wipro added that as announced earlier all eligible employees above their band C1, which includes managers and those above this level, will receive pay hikes effective June 1.
Speaking about the extent of the hike, the company said, “On average, the increments will be in the high single digits for offshore employees while it will be in the mid-single digits for onsite employees.”
The company will reward top performers with substantially higher increases, it added.
Earlier in April, Wipro posted its best fourth-quarter results in ten years. The company reported a 27.78 percent year-on-year jump in net profit to Rs 2,972.3 crore for the quarter ended in March. The IT major’s revenue from operations grew 3.4% year-on-year to Rs 16,245.4 crore for the quarter.
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After the strong Q4 result, Wipro’s CEO Thierry Delaporte had said the firm is also set to roll out promotions across bands, offer skill-based bonuses and salary hikes for senior employees in June.
"We recognise that we are competing for quality talent, and we are fully prepared to lead the war for good talent. We are investing in building talent at scale, we have implemented several interventions to retain diverse talent," he had said.