Wipro employees working in India (offshore) will get an average salary hike of 5 percent this year, while it is far lower for onsite employees. The company has also denied that it is contemplating selling a part of its business, as reported by a news channel.
"The article is baseless and malicious. There is no truth to these unsubstantiated rumors," Wipro said in a statement on Monday.
The salary hike is effective from June 1, according to the Times of India.
It may be recalled that Wipro, India's third-largest software services exporter, was a tad better last year when it came to annual increment. Offshore employees were rewarded with an average pay increase of 9.5 percent while onsite employees got 2 percent. The salary hike was effective from June 1 2016.
TCS and Infosys are yet to announce the hike for this year.
Last year, Tata Consultancy Services (TCS) gave the maximum increase, with offshore employees getting 8-12 percent while onsite employees got 2-6 percent, the highest among the top three firms.
Infosys employees got 6-12 percent pay hike, translating into an average of 9 percent. For onsite workers, the hike was a tad lower at 1 percent on an average, as against 2 percent in 2015.
Wipro chairman takes home less salary in FY2017
Azim Premji, the chairman of the Bengaluru-based company, saw his salary and other benefits fall 63 percent in the financial year 2016-17. He took home Rs 79 lakh in FY17 as compared to Rs 2.17 crore in FY16.
In dollar terms, it was $121,853 FY2017 as against $3,27,993 (about Rs 2.17 crore). The drop could be due to the chairman not being paid commission. In 2015-16, Premji was paid $1,39,634 in commission.
While Premji's pay saw such a huge decline, CEO Abidali Neemuchwala's salary saw a hike of about 16 percent. He took home $2.09 million during 2016-17, which included $800,000 in salary, $150,244 in commission, $1.13 million in allowances and $9,014 in other benefits.