| |
Friday, September 3, 1999
Wipro set to launch employee stock option plan
R Ravichandran
Hyderabad, Sept 2: The Wipro Infotech employee stock option plan (Esop) will be ready for launch in two weeks from now for issue of five million shares to permanent employees of the company with a minimum lock-in period of one year. According to group vice=president Sudip Banerjee, the company has derived a five-phase vesting schedule, with 10 per cent for the first year, 15 per cent for second year, 20 per cent for the third year, 25 per cent for the fourth year, and 30 per cent for the fifth year.A survey conducted by Wipro has shown the proven pluses of a reduced compensation cost of 8 to 11 per cent per year and a faster stock growth rate of 12 to 19 per cent more for the company, Banerjee said here on Tuesday. He said the Esop was more broad-based, with all employees in India and abroad except promoters eligible for the scheme. "This is the fastest-growing model of creating employees ownership, flexibility of design, encourage employees to align with the management," he said, and added that our main motto is "attract, retain and motivate the employees." Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
Top
|
|
Printer-friendly page