Wipro slashes pay packages of freshers waiting to join by as much as 50%
Mass layoffs seem to have become the norm in the tech world. But Wipro has now gone ahead and announced another cost-cutting measure which is inviting flak from all quarters. After firing 452 freshers few weeks back, citing quality issues, Wipro has now cut the pay packets of candidates waiting to join the company. A lot of them will have to settle for a nearly 50 per cent pay cut.
The pay cuts apply to those candidates who were a part of the company’s Velocity graduates programmed for this year. They are not being forced to accept the offer and have been given some time to consider the offer.
Wipro has said that the salaries of these candidates will be cut down from Rs 6.5 lakh per annum to Rs 3.5 lakh. In an email to candidates, the company said, “Like others in our industry, we continue to assess global economies and customer needs, which factor into our hiring plans... Thank you for completing the Velocity training programme successfully. Currently, we have certain project engineer roles available for recruitment with an annual compensation of Rs 3.5 lakhs.”
The company is aiming to save its financial resources for future plans and as a cost-cutting measure. While Wipro is being criticised for the move, it has defended its decision, saying that the company is offering freshers an opportunity nonetheless. “In light of the changing macro environment and, as a result, our business needs, we had to adjust our onboarding plans. As we work to honour all outstanding offers made, this current offer creates an immediate opportunity for candidates to start their careers, build their expertise and acquire new skills — both through the interesting and innovative work that we do, as well as our extensive learning and development programmes,” the company said.