Even after promising large yearly salaries, Indian software company Wipro is currently slashing candidates’ salaries by over 50% who are awaiting joining. This comes just a month after the corporation sacked 452 new employees due to poor performance in assessments.
The tech firm initially offered to give freshers who successfully finished their training at Wipro an annual compensation of Rs 6.5 lakh. According to the email, Wipro would now only be permitted to offer freshers an annual package of Rs 3.5 lakh.
The modified low-salary offer has been sent to all Wipro candidates who participated in the company’s Velocity graduates program this year.
The company does not put any pressure on the candidates to accept the offer and gives them a set amount of time to determine whether they want to join the team at a reduced wage or not.
“Like others in our industry, we continue to assess global economies and customer needs, which factor into our hiring plans. Currently, we have project engineers’ roles available for recruitment with an annual compensation of Rs 3.5 lakh. If you choose to accept this offer, all previous offers will stand void,” the company said in an email sent to fresh candidates.
Wipro said, “Our talent is our most valuable asset….We are committed to creating an environment where all our current and future employees are able to build successful careers and realize their goals. In light of the changing macro environment and, as a result, our business needs, we had to adjust our onboarding plans.”
As the world grapples with the economic consequences of the epidemic, several big firms and start-ups have cut staff or frozen hiring plans. In layman’s words, the move is intended to save money for the company’s future goals.
Pay cut shock for new hires at Wipro
When Sarita, 24, received an email announcing her new employment with a renowned software firm in India, she was surprised rather than happy.
The annual wage package she was now being offered had been reduced by half, from 650,000 rupees ($7,849; £6,484) to 350,000 rupees. She claims to know other new hires who, like her, received an email like this from IT major Wipro last week.
“I feel cheated, as I studied really hard to clear the tests. I also didn’t accept offers from other companies as I was happy with the package I was being offered by Wipro. Now I’ll have to settle for less as I have no choice,” says Sarita.