Tough times: Cognizant defers salary hikes, promotions by three months

IT major informed its employees that salary revisions and promotions would be effective from October 1. This process usually gets over by July.

Cognizant Technology Solutions (CTS) has pushed back promotions and salary hikes by three months due to slow growth and rising business costs.

The software services major informed its employees that any salary revisions and promotions would be effective from October 1, people in the know told Business Standard. This process usually gets over by July.

The company has 2,61,200 employees across the world.

The company's chief people officer, Jim Lennox, in a note to the staff said employees up to the manager level would receive “a percentage increase in their basic pay like previous years, while people at senior manager and above level