After salary hike, Wipro allots company shares to employees

To expand employee ownership in the company, Wipro allotted 3,98,733 shares to its key contributors to the company's growth


On Wednesday, 17 May, information and technology (IT) firm Wipro announced the allotment of approximately 3,98,733 shares to its eligible employees as stock options, through an exchange filing.

Around 3,96,893 shares were given under the ADS Restricted Stock Unit Plan 2004, while 1840 were allocated under the Restricted Stock Unit Plan 2007.

Earlier, Wipro’s competitor, tech company Infosys, had also allotted more than 5.11 lakh equity shares to its key contributors to appreciate employees’ efforts and expand their ownership.

In the past six months, Wipro offered bonuses and promotions to its employees across all bands. The tech giant  rolled out variable pay of 80.25 per cent in Q4 and gave 87 per cent variable pay in Q3 and 100 per cent in Q2.

Additionally, Wipro has opted to revamp its recognition portal and introduced new benefits, incentives and R&R programmes, along with employee assistance for better handling of COVID via activities on ground.

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