IT firm Wipro has asked candidates to whom it previously made an offer of Rs 6.5 lakh per annum (LPA), asking if they would be willing to take up the offer at Rs 3.5 LPA. This comes in an uncertain demand environment, margin pressures, and recessionary concerns, which has caused Wipro to delay onboarding for the 2022 batch of graduates for several months.
The move to halt the program comes just a few months after Wipro told freshers that onboarding will be done in a phased manner.
The company offers two hiring programs to fresh graduates: Elite and Turbo. Elite candidates are offered Rs 3.5 LPA, while Turbo candidates are offered Rs 6.5 LPA. If Elite candidates are to qualify for Turbo, they must go through upskilling through the company's Velocity program, where they receive training.
Candidates with a package of Rs 6.5 LPA who were waiting to be onboarded (a process they say has been deferred since August) received an email from Wipro on February 16, giving them the option to choose the 50% pay cut and to do so by February 20.
“Like others in our industry, we continue to assess global economies and customer needs, which factor into our hiring plans. We appreciate your commitment and patience as we try to identify joining opportunities for you. Currently, we have certain Project Engineer roles available for recruitment with an annual compensation of INR 3.5 lakhs. We would like to offer all our Velocity graduates in the FY23 batch an opportunity to opt for these roles,” the email sent by Wipro read.
