Wipro holds back variable pay of mid, senior employees in June quarter

Wipro holds back variable pay of mid, senior employees in June quarter Indian IT services provider Wipro has reportedly decided to hold back the variable pay of its mid and senior-level executives in the June quarter due to operating margins pressure. The company apparently sent an email to its employees in the C band and above stating that they will not receive any variable payouts, but the A and B bands will receive 70 per cent of the target payout. The email stated that their Q1 margins were lower at 15 per cent due to inefficiency in their talent supply chains, project margins and investments in talent technology and solutions. “Given our underperformance on margins this quarter, our variable pay (including sales incentives) takes a hit,” stated the email, as reported by The Economic Times. [Read More...]( If you would prefer not receiving our emails, please [Click Here](