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Wipro will roll out annual hikes or merit salary increases (MSI) to its employees effective December 1. The Bengaluru-based information technology firm had postponed the hikes, due in September, by a quarter due to macro headwinds and margin pressure.
The hikes will be decided on an individual basis over the next few weeks.
“Despite the current tough and uncertain global market conditions, we are pleased to announce that our MSI will take effect from December 1, 2023,” chief human resources officer Saurabh Govil wrote in an email sent to employees last week.
“Over the next few weeks, merit salary increases will be determined for eligible employees based on current compensation, skills and performance,” the email read. ET has seen a copy of the mail.
An email that ET sent to the company seeking comment did not elicit a response.
“We did our last salary increase in September of last year, and we plan to do that for this year some time in Q3 (October-December),” Wipro’s outgoing chief financial officer Jatin Dalal had said on an analyst call in July. “So at least for Q2, that’s not something that we are pencilling in at this point in time (in terms of margin pressure).”
India’s largest IT firm, Tata Consultancy Services, is the only major IT firm that awarded salary hikes for fiscal 2023 with effect April. The Tata Group company gave 12-15%…
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