Majority of IT services Wipro may not pay raises to “top performers with higher compensation” when salary increases are implemented in December.
According to Reuters, which obtained a document addressed to Wipro staff in this regard, the company will dole out selective merit compensation hikes based on its business affordability.
The corporation will prioritize wage increases for workers with smaller compensation packages who are eligible for one. “Top performers with higher compensation may not be covered in this cycle,” stated Nagendra Bandaru, managing partner and head of the company’s ‘Enterprise Futuring’ business line, in an internal memo to employees.
Employees’ pay will be increased beginning December 1. As of September 30, the IT major employed up to 2,44,707 people.
Wipro has been experiencing a period of financial stress in recent quarters as a result of inflationary pressures and global economic uncertainty.
Meanwhile, the corporation has mandated that workers work from the office three days per week. “Recognizing the immense benefits of in-person collaboration and innovation, we are now taking the next step in our workplace policy evolution and requiring all employees to work from the office three days a week, effective 15 November 2023,” the business stated in a statement.