<ul><li>Cognizant, a Nasdaq-listed IT services firm, is deferring salary hikes until August due to weak demand. With over 347,000 employees globally, the majority based in India, the company cited macroeconomic issues.</li><li>This delay marks the fourth hike in three years for many employees. Despite a 1.7% revenue decline in Q4, net profit increased by over 7%. Cognizant's move mirrors market sentiment affecting Indian IT giants like TCS, Infosys, and Wipro.</li><li>While Infosys delays campus requirements, TCS has initiated its hiring process for FY2024-25. Cognizant aims for continuity in recognizing employee contributions through bonuses and merit increases.</li></ul>

Cognizant defers salary hikes by a quarter to August

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