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Wipro Company In Bangalore: Big news is coming from the country’s IT sector giant Wipro. 80 percent of the employees of this company are getting good news before Holi. The company is planning to give 87 percent variable pay to more than 80 percent of its employees in the third quarter. According to the report of Economic Times, the company has given this information in the email sent to the employees. Company Wipro will give this benefit to bands A to B3 for its third quarter payment. Know what are the complete details..
‘Variable pay’ will be available with February salary
The Bengaluru-based IT services company saw a 0.6 per cent increase in revenue, 23.7 per cent sequential growth in bookings and an improvement in operating margin of 16.3 per cent. Although it is much less than the planned target of Wipro. It has been informed in the e-mail that ‘Variable Pay’ will be given along with the salary for the month of February 2023. A minimum level of 50 per cent is required for DOP employees to be eligible for February pay.
what is variable pay
There are 2 main parts in the salary of any employee. One is fixed and the other is variable. Many types of allowances, incentives are included in both of these. Giving variables and incentives depends on the company. Some companies give every month, some on a quarterly basis and some companies on an annual basis. Many companies also give ‘variable pay’ to their employees in the form of cash, stock or leave.
Freshers fired
Earlier, Wipro had fired 452 freshers in January 2022 last year allegedly due to poor performance. At the same time, Tata Consultancy Services (TCS) has given 100 percent ‘variable pay’ to 70 percent of its employees for the third quarter ending 31 December 2022 last month.
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