IT major Cognizant on Thursday announced merit-based salary hikes for 80% of its eligible employees effective November 1. The news is a positive turn for the IT industry, which has been beset by uncertainty and resorted to layoffs.
The Indian-origin, US-headquartered company said its highest performers will be given payouts in the high-single-digit percentage range. This comes after the company deferred the increments by four months last year, offering them in August, with hikes ranging from 1-5%. This year, the raise has been delayed until…
