Wipro’s email: We may not give salary hikes to top performers

Wipro may not reportedly give salary hikes to top performers that fall in high-salary brackets. According to a report in news agency Reuters, the company is like;y to skip salary hikes to “top performers with higher compensation” in its largest business line in the upcoming round of salary revisions in December. The report quotes an internal memo.
“We are doing a selective MSI (merit salary increases) rollout based on our business affordability,” told Nagendra Bandaru, the managing partner and president of the “Enterprise Futuring” business line in an email to employees.
Wipro will prioritise employees with lower compensation among those eligible for a raise, Bandaru added. The mail further added, “top performers with higher compensation may not be covered in this cycle”.
Employees will receive their increased salaries on December 1.
Wipro Enterprise Futuring is one of four global business lines at the Bengaluru-based company created as part of an organisational overhaul in April this year. The division deals with large-scale digital and tech transformation for companies.
Wipro had already delayed its salary hike cycle. The company has 244,707 employees as of September 30.
Wipro announces merger of 5 subsidiaries with parent
Earlier this year, Wipro announced the merger of five of its wholly-owned subsidiaries with and into parent entity Wipro Limited. The decision to merge Wipro HR Services, Wipro Overseas IT Services, Wipro Technology Product Services, Wipro Trademarks Holding and Wipro VLSI Design Services was taken at a board meeting in October. The merger plan would require statutory and regulatory approval, including a nod from the National Company Law Tribunal (NCLT).
Wipro cited four reasons behind the merger decision — to consolidate business operations, enable synergies of operations, facilitate a reduction in overheads including administrative, managerial, and other expenditures, ensure optimised legal entity structure, and significantly reduce multiplicity of legal and regulatory compliances.

Leave a Reply

Your email address will not be published. Required fields are marked *