IT giant Cognizant has initiated bonus payouts for 2024, with eligible employees receiving between 85 per cent and 115 per cent of their bonus targets, according to reports. These bonuses represent the highest levels seen in three years, reflecting the company’s commitment to recognising employee contributions.
Sources indicate that Cognizant began issuing electronic letters (eLetters) this week to inform eligible employees of their payouts. “The bonuses will be disbursed throughout March and April based on individual country payroll schedules,” the company reportedly mentioned in internal communications.
In addition to bonus payouts, Cognizant confirmed that salary hikes (merit pay increases) will take effect on August 1, 2025. The company recently addressed reports suggesting a delay in salary hikes, clarifying that the August timeline maintains their established schedule. “As part of this ongoing commitment, merit increases for eligible associates will be awarded in August, exactly one year after the prior cycle. In fact, with the August 2025 cycle, the majority of our associates will have received five merit increases within the past four years,” a Cognizant spokesperson stated last week.
“There has been no delay in the merit cycle, and any claims to the contrary are incorrect,” the spokesperson added.
The bonus announcement comes amid a competitive IT landscape where employee recognition and retention remain critical. Cognizant emphasised that these financial incentives underscore its dedication to rewarding the hard work and dedication of its global workforce.
Payouts are expected to boost morale as the company continues to position itself as a leader in the technology and digital transformation space.
1 Comment
This is not the reality. Bonus is less than last year