Wipro rolls out annual hikes for FY22, covers 96% of employees

Wipro will give out annual increments or merit salary increases (MSI) for the financial year ended March 31.

This covers 96% of its employees.

The Bengaluru-based IT services provider will award annual increases to eligible employees with effect from September, according to an internal email that was sent on Thursday.

The employees will receive the increment letters from their managers in the coming days, it said.

ET has accessed a copy of the email.

“Despite financial pressures in the last quarter, we have ensured a substantially wider coverage and market-aligned salary increase,” according to the email by chief human resource officer Saurabh Govil. “You will receive your MSI letter from your manager over the next few days. The salary increases in this cycle cover about 96% of all Wiproites based on performance and meeting eligibility criteria.”

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Wipro did not respond to ET’s queries till press time Friday.

The remaining 4% could be employees who are on extended leaves and sabbaticals, a source close to the development said, adding that a sizable number of employees will get the increases along with the September month salary.

Employees above the C1 band (managers and above) received pay hikes effective June last year but this year employees across the board have been awarded only effective September.

ET could not independently ascertain the quantum of the salary increases.

Wipro, India’s fourth largest IT services provider by revenue, had decided to hold back variable pay to its mid- and senior-level executives for the June-ended quarter due to pressure on operating margins.

The company said in an internal email in August that employees belonging to C bands and above (managers to C-suite level)
will not receive any variable payouts, while associates in A and B bands (freshers to team leader levels) will receive 70% of the target variable pay for the quarter subject to a billability threshold.

Tata Consultancy Services (TCS) gave a salary hike of 6-8% last year and will look at similar increments with an upward bias for performances for FY22, managing director and chief executive Rajesh Gopinathan said in April. TCS usually rolls out increments with effect from April.

Infosys chief executive Salil Parekh also said the Bengaluru-based company would roll out hikes effective April.

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