Monday, January 25, 2010

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Wipro to give salary hike

India's third largest software exporter Wipro said it would hike salaries across the board this quarter, but did not indicate quantum.

According to Pratik Kumar, corporate vice president, human resources, the salary hike will be given out in February. He added, “The hike will be according to the industry standards.”

Wipro beat estimates with a 19 percent rise in December quarter profit and projected growth as a global economic recovery boosts demand for outsourcing services and eases pressure on fees.

New York-listed Wipro expects its IT services revenue to rise 3.6-5.4 percent in January-March from the preceding quarter to $1.16-$1.18 billion, after it posted a 4.9 percent sequential rise in the latest quarter.

The company also announced that it will hire people from campuses. Some 7,500 people hired previously are expected to join in Q4 and early next quarter.

Last week Tata Consultancy Services also announced that it expects to increase wages in the 2011 financial year.

TCS global head of HR Ajoy Mukherjee said the company has decided to give salary increments during financial year ending March 2011, although the exact quantum of hike is yet to be decided.

“There definitely will be a wage hike but the quantum is not finalised. We are considering three options,” Mukherjee said. While giving the hikes, the company will maintain the salary structure it moved to in FY10, which consists of a quarterly variable component and an annual variable component.

However, the company so far has no plans to increase the salaries of junior recruits.


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