Cognizant Salary Hike 2024: BIG News for Employees! IT Giant Announces Date for Annual Increments
Cognizant Salary Hike 2024 News: Cognizant Technology Solutions has made a significant announcement regarding the annual salary hikes for this year. The global IT services giant has decided to delay the annual appraisal cycle by up to four months, pushing the date for rolling out these increments to a later time. Last year, the company had provided salary hikes to its employees in April. However, this delay in hikes comes amidst a period of subdued demand in the software services sector, with clients tightening their budgets due to uncertain economic conditions.
Cognizant Salary Hike 2024 Date
With over 347,700 employees globally, Cognizant has a substantial workforce, with approximately 254,000 employees based in India. According to sources quoted in an Economic Times report, the company is planning to implement the annual salary hikes for eligible employees on August 1.
A spokesperson from Cognizant stated, “We are committed to recognizing the hard work and dedication of our associates through annual merit increases and bonuses. As part of this commitment, the merit increases for eligible associates will be awarded this year on August 1.” The company emphasized its dedication to consistently acknowledging the contributions of its talented associates.
Furthermore, Cognizant recently rewarded annual bonuses to eligible associates globally, emphasizing continuity in recognizing employee contributions.
Cognizant Work from Home Mandate
In February, the company issued a memo requiring employees to work from the office at least three times a week, signaling a shift from remote work induced by the pandemic.
CEO Ravi Kumar S stated in a recent memo that all India associates are expected to be in the office an average of three days per week, without specifying the effective date for this change. This move aligns with the direction taken by other Indian IT peers such as Tata Consultancy Services, Infosys, and Wipro, which mandated a return to the office in 2023, with varying schedules.
