Last Updated: February 21, 2023, 20:38 IST
The move by Wipro comes in an uncertain demand environment and recessionary concerns.
In a case where a candidate decides to hold on to the previous offer, Wipro has said they cannot commit to a specific hiring date
In a jolt to freshers, IT major Wipro has slashed the offers it made to them.
Wipro has written to candidates 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, almost a 50% reduction.
The move by Wipro comes in an uncertain demand environment and recessionary concerns, which has also caused the firm to delay onboarding for the 2022 batch of graduates for several months.
The company offers fresh graduates two hiring programmes — Elite and Turbo. Elite candidates are offered Rs 3.5 LPA, while Turbo candidates are offered Rs 6.5 LPA.
Mohandas Pai, former director, Infosys, feels this will be extremely difficult on freshers who must have said no to other offers. “It is a wrong move. Companies should keep their promises. These are freshers at their first job, they have lots of hopes.”
Wipro has told freshers that if they accept this new offer, all previous offers will stand void, terming it a “time-bound opportunity”.
In a case where a candidate decides to hold on to the previous offer, Wipro has said they cannot commit to a specific hiring date.
Pai also feels this reflects the value of the organization. “They have refused other offers. Postponing for a short while is okay, but cutting the offer is wrong. It is a question of values, value system and morals. This is a mercenary attitude! The extra costs are not material considering the huge size of these companies.”
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