Wipro holds back employees’ variable pay due to pressure on margins

IT company Wipro has held back variable pay of employees mainly due to pressure on margins, inefficiency in its talent supply chain and investment in technology, according to sources.

According to the sources, the company has informed employees in an email about the cut in variable pay.

Two sources aware of the development told PTI that managers to the C-suite Level of the company will not get any portion of variable pay, while employee grades between freshers to team leaders will get 70 per cent of the total variable pay.

“The company in the email has attributed lower margins in the first quarter due to inefficiency in its talent supply chain, project margins and investment in talent, technology and solution during the quarter,” as per the sources.