Zoho's Sridhar Vembu tells staff no pay hikes this year
Business
Zoho's founder Sridhar Vembu just told employees there won't be any pay hikes this year. He says the company's bills are piling up, mainly because AI tech and server prices have shot up.
"I have apologized for not being able to avoid this," Vembu shared in a post on X, emphasizing that keeping expenses in check is crucial right now.
Zoho trims marketing to avoid layoffs
To avoid layoffs, Zoho has trimmed its marketing budget and is holding steady on hiring; the team size hasn't changed in a year and a half.
Vembu also pointed out that geopolitical uncertainty is making things tougher, but reassured everyone that Zoho is focused on adapting to industry changes and would work to avoid mass layoffs.