HR Trends
Cognizant has postponed its salary hikes to August 2025
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 ...
Amazon CEO Andy Jassy announced a significant change in the company’s approach to promotions
A recent town hall meeting featured Andy Jassy, the CEO of Amazon, discussing changes in the company’s approach to promotions. He expressed that the most successful leaders are those who effectively utilize the limited resources available to them. Jassy emphasized that Amazon does not favor maintaining large teams; instead, the company has experienced better results and greater impact by working with smaller teams. He pointed out that many of the successful products launched by Amazon Web Services in the past were developed by small teams, typically consisting of no more than 12 members. He also suggested that new product launches should ideally involve teams of no more than 50 members. The company is focusing on improving the ratio of individual contributors to managers by 15 percen...
Boeing India lays off 180 employees at Bengaluru
Boeing has laid off approximately 180 employees at its Engineering and Technology Centre in Bengaluru, Karnataka. This decision is part of a global workforce reduction initiative, according to reports citing sources. Boeing’s Engineering and Technology Centres in Bengaluru and Chennai focus on advanced aerospace engineering work. The Bengaluru campus, wholly owned by Boeing, is one of the company’s largest investments outside the United States. These layoffs align with Boeing’s earlier announcement to reduce its global workforce by around 10 percent. In India, the reductions were reportedly carried out cautiously, with an emphasis on maintaining service quality, safety, and operational excellence. Boeing employs around 7,000 people in India, which remains an important market for the compan...
Morgan Stanley’s cost-cutting efforts aim to eliminate 2,000 jobs
Morgan Stanley, which had a global headcount of at least 80,000 employees at the end of last year, is preparing to reduce its workforce. Following the recent layoff of 3,000 employees in China, the bank plans to cut its total workforce by two to three percent, resulting in approximately 2,000 employees being let go by the end of March. This reduction will exclude financial advisors. The aim of this workforce reduction is to improve operational efficiency. Reports indicate that these layoffs are not directly in response to current market conditions; rather, some will be based on employee performance while others will be tied to changes in location. However, it is noteworthy that Morgan Stanley continues to hire at senior levels within its investment banking division. The earlier job cuts in...
Audi to lay off 7,500 employees in Germany by 2029
By 2029, Audi, the German luxury carmaker, plans to reduce its workforce in Germany by 7,500 employees, which accounts for approximately 14% of its total workforce. The layoffs will predominantly affect the administration and development divisions, while factory workers will not be impacted, according to media reports. Over the next four years, the company aims to invest over $8 billion in its facilities across Germany. Management and labor unions are working together to implement measures that will save around $1.1 billion annually. In the past six years, Audi has already reduced its workforce by approximately 9,500 employees to allocate resources for the electric vehicles division. Recently, the company has reported a 12% decline in sales. Additionally, last week it was announced that re...
“Focus on Tesla or give up CEO position”: Tesla investor to Musk
Ross Gerber, a Tesla investor, has voiced his concerns about Elon Musk’s neglect of his duties as Tesla’s CEO in favor of his role in the government. With Tesla’s share prices and sales declining, Gerber believes Musk should resign from his position as head of the Department of Government Efficiency (DOGE) to concentrate on Tesla’s needs. If Musk cannot commit to this, Gerber urges him to step down as CEO of Tesla. In a recent interview, Gerber expressed that Tesla could benefit from new leadership since Musk seems distracted and preoccupied with his responsibilities at DOGE. He emphasized that the electric vehicle company is currently undergoing a crisis, resulting in a market value drop of more than $800 billion since the end of 2024. This trend is concerning, especiall...
Siemens is preparing to trim its global workforce by about 6,000 employees
Siemens is set to reduce its global workforce by approximately 6,000 employees. Around 50 percent of these job cuts will occur in Germany, as the company aims to cut costs in response to slowing demand and challenging market conditions. The goal of these layoffs is to align production with the declining demand. In total, about 5,600 positions will be eliminated in the Digital Industries unit by the end of fiscal 2027, with 2,600 jobs specifically cut in Germany. This unit had previously been Siemens’ most profitable segment, driven by the popularity of its controllers and factory software. Additionally, the electric vehicle charging division will see around 450 jobs cut by 2025, including 250 positions in the domestic market. The automation sector, which employs 68,000 people, has been adv...
Citigroup to lay off 30% of its IT contractors
Citigroup has decided to reduce its reliance on third-party workers. The bank plans to hire more staff for its internal technology team and will lay off 30 percent of its information technology (IT) contractors. Reports indicate that Citigroup intends to work with only 20 percent of external contractors, down from the current 50 percent. Currently, the bank employs around 48,000 people in its IT division and aims to increase that number to 50,000, according to media reports. This change reflects the bank’s focus on expanding its internal technology team to enhance the safety and reliability of its systems and processes. Ultimately, Citigroup seeks to increase efficiency and revenue growth while strengthening its risk management and data governance. Recently, Citigroup has faced risin...
Volkswagen plans to cut 1,600 positions at its Cariad software subsidiary by the end of 2025
Redundancy programs at Volkswagen’s Cariad software unit will result in 1,600 job cuts by the end of this year. Cariad, established in 2020, is the automotive software division of the Volkswagen Group. Its purpose is to create and deliver synergistic digital technology for the company’s various car brands. According to the German business newspaper Handelsblatt, approximately 30 percent of Cariad’s workforce, which numbers 5,900 employees, will be affected by these layoffs. A transformation plan for Cariad was put in place about two years ago, aimed at increasing efficiency and enhancing performance at the software firm. Now, the focus has shifted to reducing headcount. Volkswagen (VW) has also been contemplating the closure of some plants in Germany as part of its effort...
Samsung Group to Hire Over 10,000 Employees This Year
Samsung Group is increasing its hiring efforts this year, planning to recruit over 10,000 employees despite widespread job cuts in the global tech industry. The company will begin the first phase of recruitment today, March 10, 2025. A total of 16 affiliates, including Samsung Electronics, Samsung Display, Samsung SDI, and Samsung Biologics, will participate in this recruitment drive. Candidates can submit their applications through Samsung’s official recruitment portal until March 17. The selection process includes an online aptitude test in April, followed by interviews in May and medical assessments. Samsung Electronics, the largest subsidiary, has been consistently increasing its workforce. Since 2018, the company’s domestic employee count has grown by more than 24 percent, reaching 12...
Cognizant announces bonus payouts up to 115%, its largest in three years
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 ...
Lloyds to shift 4,000 employment to India this year and is already hiring
Britain’s Lloyds Banking Group plans to establish a team of 4,000 information technology engineers in Hyderabad, India, by the end of 2025. This means that nearly 50 percent of Lloyds’ engineers will be working outside of Britain by that time. This shift will result in significant job cuts in the UK, as the bank undertakes major restructuring. The bank is actively seeking talent with specialized skills in full-stack development, cloud computing, and quality engineering in India. The Hyderabad tech hub, which opened in 2023, is a key part of Lloyds’ expansion strategy in the country. Recently, Lloyds informed around 6,000 British employees that their roles and skills would be reassessed, indicating that job cuts are on the horizon. The exact number of jobs that will be eliminated or reassig...