With the attrition rate going up, Wipro has issued restricted stock options to senior staff with effect from July 1. About 8,000-9,000 employees are eligible for these options, the quantum of which will be decided based on the grade, seniority and performance of the employee concerned.
The stock options will be given at face value. Besides, about 20,000 people have been promoted and taken into the newly-created grade in the B band — B3 — with effect from July 1. The company has also effected wage corrections for its overseas employees in some specific countries. Wipro’s overall attrition in the first quarter was about 16 per cent.
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