Wipro CEO and Managing Director Thierry Delaporte said the company will pay out 100 per cent of variable pay to 85 per cent of its employees for the second quarter of financial year 2023. Speaking to media following the second quarter results, he also said the company has promoted more than 10,000 employees and increased salaries across bands.
Last quarter, Wipro slashed variable payouts across bands. While those in junior bands received 70 percent of their variable pay, those in B and C and above mid-manager level and above did not receive their variable pay for the quarter, which was attributed to margin pressures.
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Speaking on the latest development, Wipro Chief Financial Officer JatinDalal, while speaking to moneycontrol.com said that the remaining 15 per cent employees will get their variable pay as per policy. He however, did not share details on the quantum of variable pay to these employees or what bands these employees belong to.
Wipro had onboarded 14,000 freshers in the first six months of fiscal 2022, with a net increase in headcount of 600 for the quarter ended September, 2022. The company also rolled out salary increases during the quarter, and promoted 10,000 employees during the quarter.
The company also rolled out salary increases during the quarter, and promoted 10,000 employees during the quarter. The total headcount at the end of the quarter stood at 259,179. The company plans to hire 30,000 freshers for FY23.
During the quarter we followed a strategy focussing on hiring freshers, and we will continue to follow this strategy over the next quarter, said Delaporte. Attrition for the quarter moderated by 30 basis points to 23%. Delaporte attributed this to getting better at connecting employees in a hybrid world, which was driving a stabilisation in attrition.
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