New Delhi, September 18: Wipro has reportedly announced that it will roll out salary hikes for its employees starting September 2024. As per reports, top-performing Wipro employees are expected to receive an average salary increase of 8 per cent. The development comes at a time when there are concerns over a global slowdown in the technology sector, with clients reducing IT spending due to economic uncertainties.

As per a report of Mint, Wipro will offer an average 8 per cent salary hike to its top performers this year. Wipro is the second major Indian IT company to announce salary increases, following Tata Consultancy Services (TCS), according to a report of Business Standard. The salary hikes will apply to around 75 per cent of Wipro's 2,00,000 offshore employees, who will likely see an average increase of 8 per cent. Meanwhile, those stationed at client sites are expected to receive a 3 per cent increase in salary, effective from September 1, 2024. TCS Partners With McDonald’s Philippines To Modernise, Improve Current IT Systems and Enhance Digital Capabilities of Over 760 Restaurants.

Wipro spent aound INR 549 billion, which is about USD 6.6 billion on its employees for the year ending in March 2024. These spending makes up around 61 per cent of the company's total yearly revenue, which was USD 10.8 billion. Wipro and TCS have reportedly announced that they will be increasing salaries, but other major IT companies like Infosys and HCL Tech have not announced their plans yet. Microsoft and BlackRock To Launch USD 30 Billion AI Investment Fund for Data Centres and Energy Projects.

The salary increase comes after Wipro's recent change in leadership, as Srinivas Pallia stepped in as CEO in April 2024, taking over from Thierry Delaporte. Saurabh Govil, Wipro's Chief Human Resources Officer, has reportedly informed employees that the updated compensation will be included in their October payroll. It will also cover any arrears for September so that employees will receive the necessary adjustments. After taking a break from hiring, Wipro reportedly plans to increase its recruitment process, focusing on hiring around 10,000 new graduates by March 2025.

(The above story first appeared on LatestLY on Sep 18, 2024 05:43 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).