Wipro hike roll-out to be complete next week

BANGALORE, INDIA: Wipro Technologies is expected to complete the roll-out of salary increment to its employees by mid-next week, it is reliably learnt.

The staff members, who are entitled to the wage hikes based on their performances and subject to other relevant parameters, are already said to have been receiving their Merit Salary Increase (MSI) letters from the company since early this month.

Back in April, during Wipro's announcement of its fourth quarter 2011 results, chief executive officer and executive director, IT Business, T.K. Kurien, said, "We will give a compensation increase on June 1 (2012) and we continue to live by that date." Without quantifying the figure, he also said that it would be in line with their peers, who have offered a hike. By then, competitor Tata Consultancy Services had offered a hike of about 8 per cent for its employees.

Also read: Wipro staff unsure about 'pending' wage hike

Recently, a Wipro executive assured CIOL that the hike roll-out this year would be in line with that of last year, when MSI letters were despatched throughout July. The hikes would depend on employee skillsets, experience, performance, grade, vertical and BU, apart from the assessment by their L1 and L2 managers, and be effective June 1, 2012, he added.

The hikes this year start from around 5 per cent and is expected to touch double-digit figures.

The company is observing silent period ahead of its first quarter 2012 results announcement, presumably on July 24.