US based software giant, Cognizant has deferred salary hikes and promotions for three months, the Economic Times reported. The decision comes amid the ongoing stress in the IT industry and visa limitations by the Donald Trump-led government in US.
Appraisals are usually announced in June every year, so the delay has come as a shock for Cognizant's employees.
In an email sent to employees from Jim Lennox, CTS's chief people officer, said revisions and promotions will be effective from October 1, ET reported.
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 would get a 'lump sum' amount. This apart, they will get performance-linked bonuses."
For employees up to the level of vice president, according to the note, the new salaries would be effective from October 1.
The US headquartered firm, currently, has 2,61,200 employees across the world.
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