October 12, 2023
- Wipro’s Chief HR Officer conveyed to its employees in an email that the annual merit salary increase for its employees will commence by December 1st.
- This decision has been made despite the global market conditions, according to the chief HRO. Due to various macroeconomic challenges, the salary hikes were delayed.
Wipro, an IT firm based in Bangalore, made an important announcement recently regarding the Wipro Salary Hike. In this announcement, it said that it will be implementing the annual merit salary increase for its employees from the 1st of December. The hikes were originally scheduled for the month of September, but due to macroeconomic challenges and margin pressures, these hikes were delayed. In the email, the Chief HRO of Wipro, Saurabh Govil, also conveyed that the merit salary increases will be based on current compensation, skills, and performance.
Wipro’s previous CEO, Jatin Dalal, had mentioned plans for a salary increase in the 3rd quarter of 2023. The Indian IT sector, which has a market value of $245 billion, is seeing a slowdown in tech spending. Tata Consultancy Services awarded salary hikes in April, where performers received a 12–15% salary hike. On the other hand, Infosys began its salary hikes in September, even though its fiscal hikes for this year are still pending. Parallely, HCL Tech disclosed in July that its senior employees would not receive a salary hike for 2023 and that the salary hike for the junior employees would be deferred by a quarter.
The Wipro salary hike shows that the company is confident in its financial performance and is committed to rewarding its employees. It also comes at a time when many other companies are cutting costs or freezing salaries due to the global economic slowdown. This move is not only encouraging for Wipro’s workforce but also sends a positive message to the Indian IT industry as a whole. It demonstrates that IT companies are still dedicated to investing in their employees and expanding their businesses, even in the face of current challenges.
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