Zoho’s Sridhar Vembu tells staff no hike this year, tries to avoid layoffs

Sridhar Vembu, founder of Zoho, announced that employees will not receive annual salary hikes this year. This decision arises from increased costs associated with artificial intelligence and geopolitical challenges. Zoho has reduced its marketing budget and has not increased its headcount for 18 months. Vembu expressed gratitude for employees’ understanding during this difficult period as he aims to avoid mass layoffs.