Bengaluru: India’s IT services companies may freeze pay hikes and cut bonuses to deal with the business slowdown sparked by shutdowns due to the Covid-19 outbreak globally, replicating moves made during the US financial crisis over a decade ago, senior executives and analysts told ET.

“Bonus, variable pay or any increment is right now on hold,” C P Gurnani, CEO of Tech MahindraNSE 6.04 %, told ET. “At this stage, most of the world is addressing their first priority: keeping people safe” ..

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https://economictimes.indiatimes.com/tech/ites/hikes-bonuses-on-the-block-as-it-firms-get-ready-for-slump/articleshow/74719158.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst...........................ET