Cognizant CEO Ravi Kumar S addressed employees in a recent townhall meeting, providing updates on the company’s bonus structure and the status of delayed salary hike letters. The townhall aimed to address employee concerns and provide clarity on the company’s compensation plans.
As per a report by Mint, during the meeting, Kumar acknowledged the frustration among employees regarding the delayed salary hikes, which were initially scheduled for April but have now been deferred to August. He assured employees that the company is committed to honoring the promised hikes and emphasized that the delay is a strategic decision to align with the company’s financial goals and market conditions.
Kumar also discussed the bonus structure, highlighting that eligible employees will receive their bonuses as planned. He reiterated the company’s commitment to rewarding performance and maintaining competitive compensation packages. “We understand the importance of timely compensation and are working diligently to ensure that our employees are fairly rewarded for their hard work and dedication,” Kumar said.
As per the internal memo seen by Mint, the company has promised to award bonuses in March. The employees will receive the eLetters for bonus by March 10.
The CEO also addressed the broader economic environment, noting that the company is navigating through challenging times but remains focused on growth and innovation. He emphasized the importance of efficient operations and strategic investments in areas such as artificial intelligence and digital transformation to drive future success.
