Wipro, an IT services provider, has gone out to those it had offered Rs 6.5 lakh per annum (LPA) to see if they would be interested in accepting the offer at Rs 3.5 LPA instead. Graduates can choose between the Elite and Turbo internship programmes.
After promising new workers high annual salaries, Wipro is now offering lower compensation packages. The software firm first promised its trainees a salary of Rs 6.5 lakh annually. The official email sent to prospective hires, however, notes that the applicants must now take a salary that is about 50% lower than what was initially given. Some recent Wipro grads were let off at the beginning of the year after they performed poorly on an internal evaluation.
The revised, lower salary offer is valid for all applicants to Wipro’s Velocity grads programme this year. There is no pressure from the organisation for potential employees to accept the lower wage and join the team.
It was widely celebrated and rumoured that new hires will be joining the organisation on February 16 after they received an email guaranteeing them a welcome gift totaling Rs 6.5 LPA. To counter this, media reports claim that on January 31, they were given a deadline with a reduced package of 3.5 LPA and requested to respond by February 20.
A company email explained further, “We are now hiring for the post of project engineer, giving a remuneration of Rs 3.5 lakh per annum.” This offer is exclusive and any other offers will be considered void after you accept this one. It is entirely up to the candidate to wait for a better offer if they obtain a lower one and still decide to turn it down.
Elite and Turbo are two of the company’s internship and entry-level job programmes. Also, for the third quarter of FY23, employees at Wipro whose variable pay is connected to company success will get 87% of that pay.