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Tech Mahindra suspends appraisal cycle for senior employees

IT company Tech Mahindra has suspended appraisals for its employees with over six years of experience, a report in The Economic Times said. 

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IT company Tech Mahindra has suspended appraisals for its employees with over six years of experience, a report in The Economic Times said. 

According to the report, senior employees will have to wait atleast two quarters before they know whether they will get a wage hike or not. 

The development comes at a time when there's widespread uncertainty in the domestic IT sector. 

Lack of clarity about what the new US President's stance would be on H-1B visas and how it would impact the hiring policies and existing Indian employees at IT companies in the country and in the US, is making them keep their purse strings tight. 

Tech Mahindra confirmed the move but clarified that the appraisals were not postponed indefinitely. 

The shares of Tech Mahindra were trading down 0.52% or Rs 2.50 apiece at Rs 478.00 from previous close. 

The move could likely trigger off wage hike and hiring freezes across the sector. 

 

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