Zoho cancels salary hike- Sridhar Vembu cites rising AI costs, says ‘please pray for us'
Indian markets moved higher in a promoter activity development.
· LiveMint Companies
Zoho co-founder Sridhar Vembu said employees would not get their usual pay hike this year amid rising AI costs and geopolitical challenges. He pledged efforts to avoid mass layoffs and warned of a grim outlook for software jobs as Indian IT firms rethink hiring and workforce skills.
The analysis
This is a Promoter stake / pledge event. Promoters transact with better information than the market. Direction against the price trend is the signal — accumulation into weakness reads differently from a sale into strength.
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