New Delhi, November 9: Leading technology services and consulting company Wipro might not give salary hikes to “top performers with higher compensation”, media reports said on Thursday. According to the reports, the company is expected to skip salary hikes in its largest business line in the upcoming round of salary revisions in December.
The news was first reported by Reuters. In an email to employees, the managing partner and president of the “Enterprise Futuring” business line, Nagendra Bandaru, said they are doing a selective MSI (merit salary increases) rollout based on our business affordability. Amazon Layoffs Continue: E-Commerce Giant Lays Off More Employees From Amazon Music Team in Three Continents.
He also mentioned that the company will prioritise employees with lower compensation among those eligible for a salary hike. Employees will receive their increased salaries on December 1, as per the reports. Wipro Enterprise Futuring is one of four global business lines established by the Bengaluru-based corporation as part of an organisational restructuring in April of this year. The division is in charge of large-scale digital and technological change for businesses. Disney+ Hotstar Loses 2.8 Million Subscribers in India in Quarter Ending September 30, Now Has 37.8 Million Subscribers From 40.4 Million in Q2.
Wipro had already postponed its salary hike cycle. As of September 30, the company has 244,707 employees. Meanwhile, Wipro has announced a consolidated net profit of Rs 2,667.3 crore for the quarter ended September 30, 2023, against Rs 2,649 crore in the same quarter last year. The revenue from operations in the second quarter of the current fiscal stood at Rs 22,515 crores.
(The above story first appeared on Morning Tidings on Nov 09, 2023 05:40 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website morningtidings.com).
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