Departing from the previous practice of implementing salary hikes in September, Wipro has decided to shift its wage growth cycle to the third quarter of the financial year. The company’s management, speaking during a press conference, confirmed that the wage increase will still be provided to workers.
According to a report by Moneycontrol, the salary hike issue comes at a critical juncture as companies try to protect their margins and reduce wage bills, with particular concern surrounding Wipro. While Wipro has assured that its margins will remain within comparable ranges, it plans to go ahead with a salary hike in the third quarter.
“We raised our last salary in September last year, and we plan to do so for this year in the third quarter,” Chief Financial Officer Jatin Dalal said in a call with analysts.
Infosys, Wipro’s rival based in the same city, has decided to defer the salary hike for junior employees, deviating from its traditional April cycle.