Cognizant announced that all offsite employees of the company in all locations, including India will receive an average salary increase of 8 per cent this year. The Hindu Business Line reports that though the company posted a good Q1 result with 16.6% growth in revenue, it was still lower than the company’s projected growth aspirations of 23%.
A majority of the US-based software major’s employees are based in India. The salary increments for junior and middle-level employees will be effective this month and for more senior people the increment will be effective at the end of the quarter.
Cognizant stated that it will honour all placement offers that it made to students in campus this year. At the same time, the company will continue to hire laterally from the market.
Read the Hindu Business Line article here.