100% Variable Pay For Wipro's Employees In Q2

Wipro has announced to release 100% variable pay to team leader levels for the second quarter for this fiscal year. 

Further, the company has said the variable pay will be released along with the November salary.

"For Bands A to B3 in all units/functions, the pay-out is linked to company-level performance and a few other colleagues in higher bands," according to an Internal mail to its employees.

Weighing in upon this discussion, the company further added that the variable pay will be given for bands A to B3 for the September-ended quarter. However, Wipro said the rest of the employees will get the payout based on their unit's target achievement. "The variable pay as per company policy performance comes to 93.5%. 

"For all others, the pay-out is based on their unit/function target achievement as per policy. And will receive a higher pay-out if they have exceeded their unit’s target or lower if not," it added.

The company’s revenue grew by over 5 per cent to Rs 22,362.9 crore in Q2FY23 as compared to Rs 21,285 crore in the previous quarter of the same year.