So, finally, some good news coming in from Cognizant camp.
The management has decided that every Cognizant employee across the world, till Senior Associate level, will get their salary hike retroactively, effective July 1st.
In the midst of slowdown in the IT sector, and talks of massive layoffs everywhere, including Cognizant, this is a positive news coming in.
Cognizant Salary Hike: Effective July 1st
In an email to all employees, Cognizant chief people officer James Lennox confirmed this news about salary hike effective July 1st, as he appreciated the commitment and loyalty of all employees.
He said, “We needed to get this right as we get fit for growth – so thanks again for your understanding and commitment,”
Besides sharing the news about salary hike, James also stated that promotions for senior associates to manager and senior manager level will also be done quickly.
He assured that performers that their hard work won’t go in vain, and the salary hike, and promotions, both will be done in the coming weeks.
No specific time frame was shared.
However, considering that the salary hike will be retroactively done from July 1st, it will bring cheers to the existing employees, who can now expect a fatter pay cheque next October.
Besides, the company also stated that as high as $48 million has spent to retain key employees of the company this year.
Cognizant Making A Comeback?
In the past few months, lots of layoff reports had been shared about Cognizant.
In May this year, reports came in that Cognizant will ask 300 top executives to leave the company, as the company is bracing for a slowdown, and severe drop in profits.
In August, we reported that the company will trigger mass layoffs across several verticals, even as campus hiring and recruitment has been put on hold in several countries, including India.
At the same time, reports came in that few employees from Hyderabad have filed case against Cognizant and some other IT firms due to long working hours, and inconsistent leave policy which is actually against Govt. rules.
We will keep you updated, as more details come in.
Comments are closed, but trackbacks and pingbacks are open.