Zoho Cancels Annual Salary Hikes Amid Concerns Over Software Jobs
· Business · Hindustan Times, Moneycontrol, Indian Express
Zoho has cancelled its annual salary increments for employees, citing a challenging business environment. Company founder Sridhar Vembu stated that the decision reflects a broader, difficult outlook for the software industry. Vembu also expressed opposition to the concept of Universal Basic Income, describing it as a dystopian solution to potential job losses. The company has not provided a specific timeline for when compensation reviews might resume. This move follows Vembu's recent public warnings regarding the future of software employment.
Why it matters
The decision directly impacts the financial planning of Zoho's workforce and signals potential cooling in the Indian software sector's compensation growth.
Read the original report — Hindustan Times
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