by Wipro, one of the leading IT services companies in India, recently made headlines with its decision to offer lower salaries to some of its new hires. The company asked freshers who had been offered Rs 6.5 lakh per annum to join at a reduced salary of Rs 3.5 lakh per annum. This move has sparked a debate in the industry, with some experts lauding Wipro’s cost-cutting measures, while others are critical of the company’s decision.
Wipro, like many other companies in the IT industry, has been hit hard by the COVID-19 pandemic. The pandemic has led to a global economic slowdown, which has affected businesses across the board. Companies have been forced to re-evaluate their budgets and expenses, and some have had to take tough decisions to stay afloat. In this context, Wipro’s decision to offer reduced salaries to new hires can be seen as a prudent move to control costs and maintain profitability.
Wipro has clarified that the reduced salaries are being offered to new hires who have already been offered jobs but have not yet joined the company. The company has said that the decision was taken after careful consideration of the market conditions and the impact of the pandemic on the business. Wipro has also stated that the reduced salaries will be reviewed after six months and that the affected employees will be given the opportunity to catch up on the salary once the situation improves.
The move, however, has been met with mixed reactions. Some experts have praised Wipro’s decision, stating that it is a responsible move in the current economic climate. They argue that many companies are struggling to stay afloat, and such measures are necessary to maintain business continuity. Others, however, have criticized Wipro for exploiting the current situation to cut costs and for not being transparent about the reduced salaries during the recruitment process.
The debate raises some important questions about the ethical implications of such cost-cutting measures. On the one hand, companies have a responsibility to their shareholders to maintain profitability and control costs. On the other hand, they also have a responsibility to their employees to provide fair compensation for their work. There is a fine balance that needs to be struck between these two priorities.
In the end, Wipro’s decision to offer reduced salaries to some of its new hires is a reflection of the current economic climate. While it may be seen as a prudent move in the short term, it is important for companies to consider the long-term implications of such decisions. The IT industry, like many others, has always been driven by talent, and companies need to ensure that they continue to attract and retain the best employees. It remains to be seen how Wipro’s decision will play out in the long run and whether it will have any impact on the company’s ability to attract top talent in the future.
