Wipro is offering 87% variable pay to its workforce for Q3
Wipro is planning to pay 87% of its quarterly variable pay to the workforce, as per Moorabbin East safety sign the internal email.
Further, the payout will be for bands A to B3 for the third quarter, which includes the team from freshers and team leaders level as well.
Furthermore, the payout will be based on the respective larger unit’s target achievement for the remaining employees in the firm. The firm has awarded 100% variable pay for the previous quarter as well.
The email also mentioned that the business-linked variable pay is based on the quarter’s performance against revenue, bookings, and the operation’s manager.
Moreover, the firm has achieved 0.6% growth in sequential revenue with an improvement of 16.3% at the operating margin.
The variable pay will be released along with the February month’s payroll, and a minimum utilisation level of 50% is needed for billable DOP employees for all the eligible employees.
On the other hand, TCS last month had rolled out 100% variable pay for 70% of employees in the third quarter.