Indian IT Firms Cut Staff Bonuses as US, European Clients Tighten Budgets | In the News

India’s top IT services firms are freezing or cutting staff bonuses, worried that tightening budgets at US and European clients who are bracing for a recession will sharply hit their own profits after a pandemic-led boom.

“There’s growing conviction in businesses that we need to prepare for a (global) recession,” said Peter Bendor-Samuel, CEO of Everest Group. “The first thing they do is try to eliminate discretionary spending. It is early, but starting to happen.”

Read more in Reuters

Request a briefing with our experts to discuss the 2022 key issues presented in our 12 days of insights.

Request a briefing with our experts to discuss our 2022 key issues

How can we engage?

Please let us know how we can help you on your journey.

Contact Us

  • Please review our Privacy Notice and check the box below to consent to the use of Personal Data that you provide.