After Infosys and Wipro, this IT company announced an increase in salary

New Delhi: After Tata Consultancy Services (TCS), Infosys and Wipro, IT major Cognizant has decided to introduce annual increments for its employees. According to people familiar with the matter, the salary of Cognizant employees may increase by an average of 10 per cent this year.

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According to a report in the Economic Times, the New Jersey-headquartered software company last week informed its employees that they would receive ‘formal e-letters’ with new profits during the week—from October to associate director level. increase will be effective.

The decision was taken a few days after the Indian partner company introduced the pay hike. Last week, Tata Consultancy Services (TCS) made a big announcement regarding variable pay of employees. Initiating the festive cheer, TCS said that 70 per cent of the employees will get 100 per cent variable pay. In addition, the remaining 30 per cent will be paid based on the performance of their business unit.

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Similarly, Wipro CEO and Managing Director Thierry Delaporte said that the company will pay 100 per cent variable wages to 85 per cent of its employees for the second quarter of financial year 2023. Speaking at a press meet after the second quarter results, he also said that the company has promoted over 10,000 employees and increased the salaries of all bands.

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