It has been a tough year for the IT industry as most of them lost jobs due to recession once again. The most affected company was Cognizant. However, this resulted in a muted increase in compensation for the senior management at Cognizant Technology Solutions.
CTS CEO Francisco D'Souza's annual compensation increased from $11.951 Million in 2015 to $12.030 Million. Rajeev Jain who is the president of CTS received $7.09 Million against $6.54 Million in 2015. 2016 has been so hard on IT services as all companies face challenges due to H1B Visa.
Even Infosys had said that CEO Vishal received 60% of the salary he was eligible for as the targets were not met. On a shocking note, Cognizant also indicated that it would cut more jobs as part of its annual appraisal process.
New bus fare kick-starts for Hyderabad and Warangal depots Hyderabad sources have reported that the address the problem of having to give small change in bus fares, TSRTC has rationalized the city ticket fare structure. Meanwhile the minimum fare for city ordinary buses is now Rs 5, down from Rs 7 and the fare increases for longer distances. Accordingly the new fares kick in on Monday for Hyderabad and Warangal depots.
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