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According to Timesnownews, IT major, Cognizant India has spent $130 million (over Rs 1000 crore) in the year for merit-based and off-cycle increments. Cognizant conveyed to its employees that “formal eLetters” with the new salary with the hikes taking effect from October for levels up to the associate director. The company had rolled out a […]
According to the Gartner Inc survey, Only one in three employees around the world are happy with their salary. This makes nearly 32 percent of employees around the world happy with their current salary. During the course of the survey, the company spoke to 3500 employees from various fields of work. The survey also showed […]
Krispy Kreme Doughnut Corp. has agreed to pay $1,187,757 in back wages and liquidated damages to 516 workers to resolve overtime violations in multiple locations found as part of a U.S. Department of Labor investigation. On Nov. 7, 2022, the department filed a complaint listing the violations and a consent order defining the settlement in […]
A German multinational investment bank and financial services company, Deutsche Bank has announced that the bank will pay an inflation bonus to its employees. The news comes at a time when companies have been laying off employees due to rising inflation. IT companies are already seeing margin pressure due to inflation and impending recession in markets […]
India’s IT services provider company, Wipro rolls out 100 percent variable pay along with November’s payroll. A Wipro spokesperson said in a statement, “We will continue to invest in our people and their growth.” “For the second quarter of the financial year 2023, Wipro pays out 100 percent of variable pay to all employees whose pay-out […]
The business process management subsidiary of Infosys Ltd., Infosys BPM (business process management) has announced that the average variable payout for its employees is 60% in the second quarter of this fiscal. The variable pay will be paid to its employees with their October salaries for some bands of employees (J4, J5, and J6). Infosys […]
According to a mint report, an Indian multinational information technology company, Infosys Ltd has confirmed the salary hike for employees. The increments depend on an employee’s grade, with the senior management receiving lower salary hikes as their salaries are high. Infosys has added that a section of top performers receives 20-25% increments. However, it further […]
An American multinational information technology services and consulting company, Cognizant has announced that the company is rolling out annual salary hikes for employees ranging between 7% to 10%. However, the company has also stated that employees in Germany and France may have to wait for new salary hike letters. The main reason behind the delay is […]
According to TeamLease HRTech CEO Sumit Sabharwal, It is expected that certain sectors will restore salaries to the pre-pandemic mark. The salary is expected to be restored by the end of this financial year aided by the recovery in economic activities. The companies are trying to work as a pre-pandemic work model only. Sumit Sabharwal […]
Delhi Government has increased the minimum wages of unskilled, semi-skilled, and skilled workers of Delhi and it is effective from October 1, 2022. The government had earlier raised the minimum wage in May. This hike in wages is due to high rising inflation and has come just before Diwali. Deputy Chief Minister Manish Sisodia said, “Amidst […]
India’s largest IT services provider, Tata Consultancy Services (TCS) has denied any change in its increment policy. The company has also said that there is no salary reduction for any employee. The company said that all its experienced employees will get an annual salary appraisal. Earlier, there have been reports claiming Tata Consultancy Services has reduced […]
Weekday has revealed that engineers working for startups get more annual salaries when compared to Indian IT companies like Wipro, TCS, and Infosys, among others. The data shows that employees are earning tens of lakhs per annum are particularly high if they are working with one of the product startups, instead of IT companies like […]
