IT giant Cognizant has started sending out bonus letters to eligible employees, with payouts ranging from 85% to 115% of the target amount. According to sources, the majority of employees qualify for this bonus, which is the highest in three years.

The company began informing employees about the 2024 bonus payouts through emails this week. The actual payments will be processed throughout March and April, depending on each country’s payroll schedule.

In addition to the bonus, Cognizant has also announced that it will provide merit-based salary hikes starting from August 1, 2025. This increase will take place exactly one year after the last salary revision.

This move reflects Cognizant’s commitment to rewarding employees for their performance and retaining talent in a competitive IT industry. While the company has not officially commented on the bonus rollout, employees have welcomed the announcement.

Source: The Economic Times