In February, Wipro, a prominent Indian software company, garnered attention for reducing job offers to freshers by approximately 50%.
Wipro Slashing Freshers Salary By Half
Initially, the technology corporation had extended salary packages of Rs 6.5 lakh to freshers.
However, the company subsequently revised its compensation structure for new hires citing changes in the macro environment as the rationale.
As anticipated, this decision was met with significant criticism from individuals who raised concerns regarding the ethics of the move.
It is worth noting that the company did not impose the revised offer on freshers and provided them with the option to decide whether they wanted to accept the lower compensation package. This was reported by sources.
Fast Tracking Onboarding Process
According to a recent interview with the Economic Times, Jatin Dalal, Wipro’s Chief Financial Officer, has disclosed that 92% of freshers opted to accept the reduced salary offer as a means of expediting the onboarding process.
Moreover, he added that decisions related to freshers are made with complete impartiality and transparency.
Campus hires were presented with both options, and 92% chose to accept Wipro’s original offer.
He also stated that the company would continue to onboard new hires based on its business requirements throughout the year.
Looking ahead, while discussing how the company presented choices to its employees, he stated, “We also offered employees the option to decide whether to join or not.
Therefore, I am not being defensive about the decision. However, we are confident that, on an aggregate basis, we are making the right decision for the employees who choose to join us.”
It seems that freshers chose to join the company at a reduced salary package to expedite the onboarding process, rather than waiting for a higher compensation offer.
Immediate Opperchunity For Candidates
Wipro had announced last month that it would not be extending the previously promised high salary packages to freshers.
Initially, the company had assured all freshers of an annual compensation of Rs 6.5 lakh.
However, it was later revealed that the compensation packages for new hires had been significantly reduced and they were requested to accept annual packages of approximately Rs 3.5 lakh.
In an email sent to freshers, the IT giant stated, “As with other companies in our industry, we continuously evaluate global economies and customer requirements, which impact our hiring plans.
At present, we are recruiting for project engineers’ roles with an annual compensation of Rs 3.5 lakh. If you decide to accept this offer, all previous offers will be null and void.”
The email also added, “While we strive to uphold all prior offers made, this new offer presents an immediate chance for candidates to commence their careers, improve their knowledge, and acquire new skills.
This can be achieved through the exciting and innovative work that we undertake, as well as our comprehensive learning and development programs.”
