CHENNAI: Amid talks of layoffs and tightening US visa programs, US headquartered Cognizant Technology Solutions (CTS) is gearing up for delayed hikes in salaries and promotions.
While hikes and promotions are typically communicated to employees in June every year, this year, the company has delayed the process this year.
In an email (seen by TOI) sent to employees from Jim Lennox, CTS’s chief people officer, said revisions and promotions will be effective from October 1.
While associates up to level of manager will receive a percentage increase to their base pay as in previous years, senior managers and above will now receive a lumpsum payout vis a vis an increased salary every month, apart from their performance linked bonuses.
The email says promotions for associates up to level of VP will be announced soon and will be effective October first. Details on promotions for senior VP and higher will be shared separately. Lennox goes on to say that 2017 has seen a good start and while macro environment factors cannot be controlled, what can be controlled are their executions against macro shifts, driving value to clients and differentiating themselves in the marketplace.