Wipro Ltd will initiate merit salary increases (MSI) for all eligible employees up to Band B3 (Assistant Manager and below), effective September 1, 2021. In January 2021, the company had announced salary hikes for eligible employees in these bands, who form 80 per cent of the company’s workforce, according to a press statement from the company on Friday. This is the second hike Wipro has given to its employees in this calendar year.
As announced earlier, all eligible employees above band C1 (Managers and above) will receive pay hikes effective June 1. On average, the increments will be in the high single digits for offshore employees while it will be in the mid-single digits for onsite employees. The company will reward top performers with substantially higher increases, the statement said.
Wipro's stock closed at ₹553.30 at the end of the day's trading which was nearly 1 per cent lower than the previous day closing.