Zoho Founder Sridhar Vembu warns employees of tough times, cancels annual salary hikes

Zoho founder Sridhar Vembu announced that the company has completely halted the annual salary hikes for its employees this year. He stated that high operational costs due to AI technology, global geopolitical tensions, and the uncertain soft ware market are the main reasons for this difficult decision. Vembu also noted that the cost of necessary servers for their data centers has increased by 4-fold.