Wipro says there is no change to the salary increase plan for employees, the increase will be effective from September 1
New Delhi: Software services company Wipro said it had not expected any changes in salary increases and that salary increases for its employees would be effective from September 1. The IT major also informed that the first cycle of her quarterly promotions was over. “There is no change from our previous statement on the salary increase, and the increases for our employees will be effective from September 1, 2022. We have also completed the first cycle of quarterly increases from September 1, 2022. July 2022,” Wipro told Mint.Also Read – TCS will not offer salary increases to employees who only complete one year. Check details here
Employees in band C (mid-level) and above will also not receive variable pay, according to the report. He said incentives for people in sales positions have also been affected. However, the company, in its official statement, said: “We have no further comment on the amount of variable compensation.” Also Read – HCL Tech Pips Wipro to be India’s 3rd Largest IT Company
For employees in groups A and B (new and associates), the company pays 70% of the target variable compensation if they reach the billability threshold, plus the salary for the month of August to be paid at the end of the month . Also read – End of home working for the TCS: an IT company calls employees back to the office from November 15. Read the detailed plan here
Wipro pays variable compensation on a quarterly basis. The company sets the variable pay for employees in bands A, B and Rainbow (trainees) on the employee’s billable days for the quarter. Variable compensation is based on the organization’s financial parameters for band C and above.
Wipro previously said promotions for new hires were running from July this year. The report added that the company would offer quarterly promotions to its top performers up to mid-level employees. A Wipro spokesperson also confirmed the plans to the newspaper, saying the company “will launch several promotions for its employees starting in July.”