LTIMindtree’s employees see reduction in hikes; company secretary resigns

Faced with macroeconomic headwinds, the sixth largest IT service company, LTIMindtree rolled out very poor increments for employees. Sources said that while many seniors didn’t get their hikes, juniors saw single-digit appraisal this year.

The development comes days after two IT giants, HCLTech and Wipro said they are postponing their appraisal for employees in this second quarter. Even the second largest IT company, Infosys recently didn’t give a straight answer but said it is actively considering the compensation and hike process for its employees.