Compensation & Benefits

Cognizant has postponed its salary hikes to August 2025, delaying increments by five months from the usual timeline of March. However, eligible employees will still receive their bonuses in March 2025. This marks the second consecutive year that the IT giant has deferred pay raises, affecting thousands of employees worldwide. The decision is part of Cognizant’s cost-cutting strategy in response to economic challenges. As IT firms face slow revenue growth and reduced client budgets, many companies are making cautious financial moves. Industry leaders such as TCS, Infosys, and HCLTech have also adjusted their salary increment schedules in recent months. For employees, this delay extends the period of financial uncertainty. Many were counting on salary hikes to manage rising living costs and ...

Cognizant, the IT giant, has begun its bonus payouts for 2024, with eligible employees receiving between 85% and 115% of their targeted bonuses, according to reports. These payouts represent the highest levels seen in three years, highlighting the company’s commitment to recognizing employee contributions. Sources indicate that Cognizant started issuing electronic letters (eLetters) this week to inform eligible employees of their bonuses. “The bonuses will be disbursed throughout March and April based on the payroll schedules of individual countries,” the company mentioned in internal communications. In addition to the bonus payouts, Cognizant also confirmed that salary hikes (merit pay increases) will take effect on August 1, 2025. The company recently addressed concerns about a possible ...

Tata Consultancy Services (TCS) is expected to begin disbursing annual salary increments for the financial year 2025 in April, which is just two months away. The Indian multinational company plans to implement these increments in March, with increases anticipated to be in the range of four to eight percent. As per usual practice, divisions that have demonstrated exceptional performance are likely to receive higher increments. However, this year, the overall increments are lower compared to previous years. While the average increment generally ranged from seven to eight percent, this year employees have been informed that the increment will fall between four and eight percent. This is notably lower than the average increment of 10.5 percent in FY22. In April 2024, TCS introduced a new polic...

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