IT services provider, Wipro, announced pay raise for around 80% of its staff, the second salary hike the company enforced this year as the company looks to retain talent in the tech sector.
“Wipro Limited will initiate merit salary increases (MSI) for all eligible employees up to Band B3 (Assistant Manager and below), effective September 1, 2021,” Wipro said in a statement.
In the first quarter, the company’s attrition rates jumped to 12% prompting it to offer skill-based bonuses, salary hikes for senior leaders and promotions.
In January 2021, Wipro announced salary increases for eligible employees in the bands, who form 80 per cent of the company’s workforce.
“On average, the increments will be in the high single digits for offshore employees while it will be in the mid-single digits for onsite employees. The company will reward top performers with substantially higher increases,” the company said.