Home >Companies >News >Wipro to roll out salary hikes from this week

IT services major Wipro Ltd will be rolling out a second salary hike of the year for its employees from 1 September, 2021, as announced earlier. 

"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," Wipro had said in a statement.

All eligible employees above band C1 (Managers and above) will receive pay hikes effective June 1. 

The company had posted a 35.6 per cent jump in June quarter consolidated net profit to 3,242.6 crore, and exuded confidence in logging double-digit revenue growth in FY22 following stellar Q1 performance and robust demand environment.

The Bengaluru-based company had registered a net profit (attributable to equity holders) of 2,390.4 crore in the year-ago period, as per Indian Accounting Standards (Ind-AS). Its revenue from operations rose by 22.3 per cent year-on-year to 18,252.4 crore in the reported quarter.

During the earnings call, Wipro CEO and Managing Director Thierry Delaporte had expressed that in the short term, there would be some pressure on account of people cost as the company has announced a salary hike for 80% of its employees, effective September 1 - its second hike in this calendar year. 

The onboarding of 6,000 freshers in the second quarter would be the highest ever by Wipro, he said, adding that the company will roll out over 30,000 offer letters this year for freshers to join in FY23. Of the 30,000 offers, 22,000 freshers are expected to join.

In the first quarter, more than 10,000 people were lateral hires, while a little less than 2,000 freshers were onboarded. Wipro's IT services workforce crossed the milestone of 2 lakh with a closing headcount of 2,09,890. Its attrition was at 15.5 per cent in the June 2021 quarter.

Recently, Wipro has also invited job applications from fresh engineering graduates for its ‘Elite National Talent Hunt’ hiring programme. Engineering students who will complete their curriculum in 2022 have been asked to send their applications for the recruitment programme. 

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Edit Profile
My ReadsRedeem a Gift CardLogout