No bonus or salary hike for now: CEO clarifies!

For a long time now, domestic IT service companies have been officially sharing crucial information about salary hikes and bonus announcements with their employees. Companies like Infosys and Wipro have already shared these details with their employees. In this context, Cognizant, an American-based company, is also reported to have provided key information to its employees regarding bonuses and delayed salary hikes.

In detail, Tech major Cognizant's CEO Ravi Kumar recently addressed the employees about bonuses and delayed salary hike letters during a town hall meeting. In fact, this meeting was organized to address employee concerns and provide clarity on the company’s compensation plans.

During the meeting, the CEO acknowledged the concerns of employees. Regarding salary hikes, he mentioned that although they were initially planned for April, they have been postponed until August due to certain reasons. Explaining the delay, he stated that it was a strategic decision to align with the company’s financial goals and market conditions. However, he assured employees that the company remains committed to honoring the promised hikes, although they are delayed to some extent.

At the same time, CEO Ravi Kumar made key comments about the bonus structure. He mentioned that eligible employees will receive their bonuses according to the plan. He assured employees that the company is working hard to make the payments on time. He emphasized that the company believes in rewarding its employees for their hard work.

The company plans to provide bonuses in March. Eligible employees will receive bonus letters via email by March 10. Despite facing challenges, the company has remained focused on growth and innovation.

Taking the company's financial situation into account, the CEO expressed confidence in strategic investments in areas like AI and digital transformation to achieve future successes. As a result, salary hikes for employees are expected to be further delayed. There are also concerns that this could affect employee motivation.

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