IT major Wipro has said there is no change to its earlier stance on salary increase, and pay hikes for its employees will be effective from September 1.
This is in response to a media report that had said Wipro was pausing variable payouts for the April-June quarter for mid and senior-level employees. The company also said it has completed the first cycle of quarterly progressions effective July 1.
According to the report, employees in Band C (mid-manager level) and above will not be given variable compensation. It said that incentives for people in sales roles have also been impacted.
However, the company, in its official statement, said, “We have no further comments on the quantum of variable pay.”
Wipro gives variable pay on a quarterly basis. The company sets the variable pay for employees in Bands A, B, and Rainbow (trainees) on the employee’s billable days for the quarter. Variable compensation is based on the financial parameters of the organisation for Band C and higher.