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Wipro said there were no changes in salary increase and hikes will be effective from September. The tech firm said it has completed its first cycle of quarterly promotions but did not comment on the variable pay that was rolled out to its employees.
“There is no change to our earlier statement on salary increase, and hikes for our employees will be effective from September 1, 2022. We have also completed the first cycle of quarterly progressions effective July 1, 2022. We have no further comments on the quantum of variable pay,” Wipro said in an email response to Mint.
Wipro’s comments come on the back of news report that variable pay of employees of certain bands were impacted because of margin pressures. The fourth largest company in June end quarter faced a low margin of 15% compared to 18.8% in the same period, last year.
Mint had written in July that Wipro is overhauling its employee bonuses and increments to rein in high attrition and attract fresh talent as India’s technology sector continues to see a covid-induced boom in hiring. “Wipro will roll out several promotions for its employees, starting July. Going forward, the company has decided to offer quarterly promotions to its top performers, up to mid-management level. Wipro is expected to roll out hikes in September,” Wipro had then confirmed to Mint.
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