IT major Cognizant has begun rolling out letters informing about bonus payouts in range of 85-115% for eligible employees, according to sources.
Majority of associates (employees) are eligible for the bonus payout.
An email query sent to company seeking comments did not elicit a response.
Meanwhile, sources told PTI that Cognizant, this week, began sending out mailers (eLetters) informing about bonus payouts for 2024.
"Eligible associates will receive bonus eLetters this week. Payouts will be issued throughout March and April based on individual country payroll schedules," it said.
The bonus is at the highest level in three years, said the mailer sent to employees.
Cognizant has also informed that it will give merit pay increases (salary hikes) effective August 1, 2025, one year after the previous increase.
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