Employees at Airtel and Vodafone Idea have got their annual wage raises or promotions. According to statistics, employers have given their staff raises averaging between 7% and 8%. The telecom industry, notably Vodafone, has had a particularly difficult year. Even while Airtel experienced losses, they were far lower than those experienced by Vodafone Idea. In India, Vodafone Idea (VIL) had losses in 2022. The company’s fiscal year ended March 31, 2023, with a combined loss of Rs 29,297.6 crore. In 2022, Airtel also experienced losses in India. For the quarter that ended March 31, 2023, the firm recorded a combined loss of Rs. 5,237 crore. Losses at Airtel were far lower than those at Vodafone Idea.This is because Airtel has a stronger financial position and a more diversified business model.An industry executive mentioned in the report that both Airtel and Vodafone have given their employees salary hikes of 7-8 per cent this year. Airtel offered bonuses of up to 110 per cent, while Vodafone Idea provided bonuses of up to 100 per cent.It is worth noting that the salary increases this year are lower than what was anticipated. Experts in the industry had estimated the increments to be in the range of 10-12 per cent.

            Sachin Alug, the Chief Executive at NLB Services, explained the reasons behind the lower salary increases in the telecom sector to ET. He stated, “The low rate of increments is mainly due to telecom players primarily focusing on recovering to their pre-pandemic levels.”The global economic outlook and the industry’s cautious approach are also factors contributing to the underwhelming salary hikes.Bharti Airtel and Vodafone Idea have given their employees salary increases of 7-8 per cent for FY23. They have also awarded bonuses of up to 110 per cent to retain and attract top talent. However, these salary increases are lower than expected, primarily due to the telecom sector’s focus on recovering from the impact of the pandemic and the cautious approach in the industry.

 

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