Wipro defers promotions, salary hikes amid coronavirus pandemic
BusinessToday.In April 16, 2020
Wipro has deferred annual increments and scheduled promotions for the month of June for most of its employees. Wipro's decision comes amid the economic uncertainty caused by the coronavirus pandemic.
"It is certainly not happening in the first quarter. We will take a call based on how the business moves and are not in a position to give guidance," President and Chief Human Resources Officer Saurabh Govil.
Wipro has also said that it will honour all job offers given to college students during the placement season this year, but the joining dates would be deferred and would be decided later.
Wipro had said in January that it would hire 12,000 from Indian campuses this year. Govil has now said that Wipro will take a call about the hiring numbers in September when it starts to visit campuses again for placements, according to the daily.
"The biggest cost in our business is people so there are three ways of cost optimisation. Either we onboard less or do not give hikes or reduce the number of people. Depending on the situation, we will decide what to do," Govil said.
According to the fourth-quarter results of Wipro, the company's employee strength fell by 4,400 in Q4. This suggested that the business was weakening even before the coronavirus pandemic came into full force. The total strength now is 182,886, compared to 187,318 at the end of the Q3 of FY 2019-20.