According to livemint reports, An Indian multinational corporation, Wipro to fast-track onboarding more than 90% of the freshers have accepted lower salary options.
Jatin Dalal, chief financial officer at Wipro said, “The next-gen associates were given both the options and 92% of the campus hires chose to join Wipro at the original offer.”
Wipro has reduced the employee’s salary by 50 percent from Rs 6.5 lakh to Rs 3.5 lakh per annum. The company provided training to freshers employees. This allows the Elite fresher candidate to upgrade to the ‘Turbo’ category. This also upgrades the salary package of employees.
Now, As per the email the company said in an email to candidates, “Like others in our industry, we continue to assess global economies and customer needs, which factor in our hiring plans. Currently, we have project engineers’ roles available for recruitment with an annual compensation of Rs 3.5 lakh.”
Earlier, CHRO Saurabh Govil told in an interview with Moneycontrol, “We hired people from campuses at Rs 3.5 lakh, with everyone hired at the same salary. Then, as a company, we said that we will invest in these people. At our cost, we trained them into becoming full-stack engineers.”
“We had said that they will be onboarded at a higher salary of Rs 6.5 lakh after they completed the training and cleared the assessment”, he added.
He further added, “We onboarded the first batch of Velocity candidates, and then we realized that we didn’t have a requirement at that point in time for such resources. However, we were onboarding people at the lower band. So we gave them a choice, in all transparency.”
“Their old option was still valid, and they could wait to be onboarded. Or, there was another option: they could join at the lower band”, he added.
Wipro saw a reduction in employee count from January to March 2023. The firm’s total headcount at the end of the March quarter slipped to 256,921 from 258,744 in the last quarter. Wipro has reduced its headcount by 1,823. In its fourth quarter voluntary attrition rate decreased to 14.1 percent.
