Wipro completes salary hike covering 80% of its employees

IT giant Wipro on Wednesday informed that it had completed a salary hike covering 80% of its employees and staff. This was the second salary hike this calendar year.

Jatin Dalal, Chief Financial Officer of the Wipro, said that they sustained their operating margins in Q2 in a narrow band even after absorbing the full impact of their recent acquisitions and investing significantly in their business across sales, talent, and capabilities. 

“We completed a salary increase covering 80% of our colleagues, making it the second hike in this calendar year,” said Jatin Dalal, Chief Financial Officer of Wipro. The company has earlier announced second salary hikes with effect from September 1, 2021, for all eligible employees up to Band B3, i.e., Assistant Manager and below.

On average, Wipro is said to have given increments in the mid-single digits for onsite employees and in the high single digits for offshore employees. The software major had earlier also said it would reward top performers with substantially higher increases. In January 2021, the company had already completed salary hikes for eligible employees in the same bands, who form around 80% of the company’s total workforce.

Wipro today reported a consolidated net profit of ₹2,931 crores for the quarter ended September 2021 (Q2FY22). This is an increase of 19% from ₹2,466 crores posted in the same period in 2020 (Q2FY21).Wipro also stated that it is expecting revenue from IT services business to be in the range of $2,631 million to $2,683 million, which translates to a sequential growth of 2.0% to 4.0%

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