(Photo : Wikimedia Commons)
Wipro Sarjapur Office

Indian tech giant Wipro has announced an 8 percent salary hike for best-performing employees in 2024, compared to 6 percent the company provided in 2023. 

According to a report by the Mint, the salary hike will be mostly benefitting the company's employees working in offshore facilities. 

Around 75 per cent of Wipro's 200,000 offshore employees get this salary hike, while those stationed at client sites are expected to receive a 3 percent pay rise.

The decision to increase the salary also follows Wipro's recent leadership change, with Srinivas Pallia taking over as CEO in April. After taking over as the company's CEO, Pallia highlighted the vitality of guiding Wipro through a challenging period towards sustained growth.

Salary Hike Amid Economic Headwinds

Wipro's decision to increase the salary of best-performing employees comes at a time when a global slowdown is happening in the technology sector, with clients reducing their expenditure on IT infrastructure fearing a recession. 

Amid all these economic uncertainties, Tata Consultancy Services had also recently announced a double-digit salary hike for their best-performing workforce. 

However, most of the companies working in the technology sector are sticking to salary hike that ranges from 4.5 percent to 5 percent. 

The decision taken by TCS and Wipro is expected to elevate employee morale and could also ensure retention. 

Meanwhile, industry experts say that companies operating in the technological sector are cautious while making expenditure decisions after carefully analysing macroeconomic conditions and future economic growth. 

Wipro Eyes Adding 10,000 Employees by 2025

Wipro, one of the major players in the global technological landscape currently spends $6.6 billion on its employees, representing 61 percent of its full-year revenue of $10.8 billion.

The company is also expected to bolster its hiring from campuses, and it is targeting 10,000 freshers by March 2025.