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Cognizant rolls out wage hikes for 1.6 lakh employees, promotes 24,000

From second quarter of 2021, the company will move to a quarterly promotion cycle for billable employees at the senior associate level and below,

March 04, 2021 / 02:00 PM IST
(Image Courtesy: Wikimedia Commons)

(Image Courtesy: Wikimedia Commons)

US-based IT major Cognizant has promoted 24,000 employees globally and rolled out wage hikes based on performance for 1.6 lakh employees, Rajesh Nambiar, Chairman and Managing Director, Cognizant India, has said.

“We are also rewarding about 160,000 employees with merit increases globally and have promoted more than 24,000 employees across every level,” Nambiar said in a statement.

To reward employees in a more timely manner for their hard work and high performance, the company was moving to a quarterly promotion cycle for billable employees at the senior associate level and below from the second quarter of calendar year 2021, he added.

In addition, the company also paid the bonus to its employees in 2020 higher than that of last year despite the challenging year.