Zoho cancels annual salary hikes, Sridhar Vembu says 'Outlook for software jobs grim'

Zoho Co-founder Sridhar Vembu said the company has cancelled annual salary hikes this year amid an uncertain software business outlook and rising AI-related costs. Warning that the outlook for software jobs is "grim", he said Zoho would work to avoid mass layoffs. His remarks drew criticism on X, with users questioning his recent appeal to Indians abroad to return home.