'No pay increase this year': Zoho's Sridhar Vembu says 'working hard to avoid mass layoffs'
Zoho CEO Sridhar Vembu announced no pay increases for employees this year, citing a grim outlook for software jobs and rising costs due to AI and server price hikes. The company is focused on avoiding mass layoffs and has not increased its workforce in 18 months. Vembu emphasized the importance of the next 3-5 years for the company's reinvention efforts.