Rishad Premji , WIPRO chairman takes 50% cut in his pay

WIPRO ,one of the leading Big Tech companies who works as a master in providing tech solutions, hasn’t been able to find solutions for its net profits and answers to global recessions in recent times. The company fillings have been reported on 23rd of May which have reported a negative response from the IT Services sector. As a result of this , company’s chairman Rishad Premji has to take a 50% cut in his compensation.

According to the company’s annual report to the exchanges, under International Financial Reporting Standards (IFRS) for American depository shareholders (ADS), Premji’s salary in the fiscal year 2023 was reported at $951,353. This figure represents a 47% decrease from the previous fiscal year (FY22) when his salary was $1,819,022.

“In light of the fact that the incremental consolidated net ...