Covid lockdown: BPM firms see sluggish quarter, to defer promotions and hikes

Bengaluru: Business process management companies are planning to defer promotions and pay increases anticipating sluggish first quarter growth in the wake of the Covid-19 virus outbreak and ongoing lockdowns in many markets including India.

Clients of BPM companies in the travel and insurance sectors have been hit badly due to the pandemic. WNS said it would defer employee promotions and increments as it seeks to focus on business continuity now.

“At this point of time, we have deferred all discussion on promotions and increments for a few months, but we are holding on to the employees. There are no job cuts or layoffs,” Keshav Murugesh, group CEO of WNS told ET.