Wipro is planning to announce salary increases in the October-December quarter, following a promise made during its July earnings call. The company's last salary increase was in September last year and is expected to be announced in the third quarter of this year. CEO Jatin Dalal stated that the impact of the increase is not being factored in for the second quarter. The company has also announced that Dalal has been appointed as the next Chief Financial Officer of Cognizant, a company that resigned from Wipro recently. The company has not commented on rumors or speculation at the Q1FY24 press conference.

In constant currency, Wipro's revenue fell 2.8% sequentially in the June quarter. Wipro also decreased its workforce by 9,000 people in the June quarter.

Pay raises at Infosys, TCS, HCL Tech, and other IT firms

Infosys, India's largest IT company, has started its performance review cycle for October 2023, with self-evaluation scheduled for September 29. The evaluation will occur by October-end, with ratings communicated to individual employees in December. Infosys typically announces salary hikes in June/July effective from April. India's largest IT company, TCS, has rolled out increments, with double-digit increases to top performers. HCLTech plans to defer hikes to junior and mid-level employees by a quarter and skip the compensation review for the management layer and above this year. Midcaps Coforge, Persistent Systems, and LTIMindtree have also rolled out salary hikes.