Cognizant delays salary hikes for eligible employees by four months, from April to August 1, due to weak demand and economic challenges.
IT services firm Cognizant has pushed back its salary hikes for eligible employees from April to August 1, a four-month delay, amid subdued demand and macroeconomic challenges. The company, which has over 347,700 employees, has previously awarded four merit increases within a three-year period. Despite a 1.7% revenue decline in Q4 2022, the company's profit rose 7% year-on-year to $558 million.
April 05, 2024
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