IT services company Cognizant Technology Solutions has issued bonuses for 2014, at around 100% on average, which is lower compared to the previous year, owing to the fluctuation in the company performance during 2014.
While the annual bonus payout for the year was around 100% for most levels, the high performers received up to 130%. Last year, the bonus payout on an average was over 100%, said sources. For the top performers, the bonus was to the tune of 160%-180% last year.
“The annual bonus payout for most levels has been approximately 100 percent of target on average, while high performers have been rewarded at much higher levels of target bonus payout,” said a spokesperson of the Nasdaq-listed company.
“As a company, we have always believed in sharing the rewards of our performance with our associates, and our bonus payout for this year is yet again an expression of this philosophy,” he added.
According to information available, the lower bonus payout in 2014 is a result of the company lowering its revenue guidance during the year. While overall in 2014 the company performed well, there was a fluctuation and after the second quarter, the company has lowered its revenue guidance, according to reports. The bonus is fixed based on the performance of both the individual as well as the company.