According to FinancialExpress, an Indian multinational corporation that provides IT, consulting and business process services, Wipro has rolled out record senior promotions to retain the talent.
According to reports, Wipro has promoted 12 top executives to the post of senior vice president and 61 executives have been elevated to vice president.
Currently, the company has over 200 VPs and SVPs working as part of the senior leadership team. However, the hiring was at a slower pace for the quarter ending September 30, 2022.
Wipro added 605 new employees. As of September 30, 2022, Wipro’s employee count in IT services increased to 259,179 from 258,574 at the end of June. The company has reported an Attrition Rate of 23%, moderating slightly from 23.3% in the previous quarter.
Earlier, Wipro rolls out 100 percent variable pay along with November’s payroll. A Wipro spokesperson said in a statement, “We will continue to invest in our people and their growth.”
“For the second quarter of the financial year 2023, Wipro pays out 100 percent of variable pay to all employees whose pay-out is linked to the overall company performance. This comprises nearly 85 percent of the company,” the spokesperson added.
This payout will be provided to nearly 85% of employees. Additionally, the remaining employees will receive the payout based on their unit’s target achievement.
Recently, Tata Consultancy Services (TCS) has decided to give 100 percent variable pay to almost all junior-level employees of its workforce for the quarter that ended in December, Q3FY23. Since the company posted a decline of 2,197 people in its employee base, TCS headcount stood at 613,974 as on December 31, 2022.
