Wipro holds back variable pay for mid, senior-level employees for Q1

India’s fourth largest IT services provider by revenue, Wipro NSE -1.30 %, has decided to hold back variable pay to its mid- and senior-level executives for the June quarter due to pressure on operating margins, according to people aware of the matter.

The Bengaluru-based company said in an email earlier this week that employees belonging to C bands and above (managers to C-suite level) will not receive any variable payouts, while associates in A and B bands (freshers to team leader levels) will receive 70% of the target variable pay for the quarter subject to a billability threshold.