Bengaluru's IT major Wipro announces pay hike, brings cheer to 80% employees
Synopsis
In good news for employees in IT major Wipro, the company has announced a pay hike. As per the announcement, the order for salary hike will come into effect from September 1, 2021 and will benefit 80% of the workforce in different positions.
Amidst pandemic enforced lockdown, slow down of economy and massive jobs cut, Bengaluru based IT giant Wipro reported that it will go for a pay hike.
With the decision that will come into effect from September 1, 2021, about 80% of the total workforce will receive hike benefits. Interestingly, this is the second time in a year that Wipro has announced a pay hike.
"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 per cent of the company's workforce – this is the second hike in this calendar year," a report quoted a statement from Wipro.
“On average, the increments will be in the high single digits for offshore employees while it will be the mid-single digits for onsite employees. The company will reward top performers with substantially higher increase,” the company's statement added.
While most of the IT employees are under stress due to reports of job cuts, the quarterly report for financial year 2021 results have come as sweet news as it reportedly stated that it will do all that is required to retain talent at the company.
10,000 freshers on board via campus recruitment in FY-2021
As per reports, the company hired 10,000 freshers from top campuses across the country. This apart, the company also announced skill based bonuses for people with the right skill set.
On a flip side, as per reports, during Q4, Wipro also had an attrition rate of 12.1%.
NOTE: Asianet News humbly requests everyone to wear masks, sanitize, maintain social distancing and get vaccinated as soon as eligible. Together we can and will break the chain #ANCares #IndiaFightsCorona
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.