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Cognizant announces increments and promotions

Now, the American multinational IT services provider Cognizant has announced that it will  start implementing merit-based salary hikes and promotions in the fourth quarter of this financial year, thus joining its competitors Infosys, TCS and Wipro, among others.

With ‘Work-from-Home’ becoming the new normal, companies from all sizes and backgrounds have heavily depended on secure and synced IT services.

Now, as markets reopen and the economy revives, IT businesses have started to gain momentum, thus rolling out phase-wise salary hikes for their employees.

This is a result of the company’s excellent performance in the third quarter, outperforming analysts’ expectations. Its revenue guidance closed at $16.7 billion.

“Against a challenging demand environment, we continued to strengthen our portfolio, execute our digital strategy and increase competitiveness. We are creating 2020 bonuses at higher levels than 2019. We’re also implementing targeted merit-based increases and promotions in the fourth quarter.”, says Brian Humphries, Cognizant CEO.