Indian billionaire Sridhar Vembu freezes Zoho pay rises as AI costs soar
Billionaires Africa | 13.10.2026 18:55
Indian billionaire Sridhar Vembu, the founder of business software maker Zoho Corp., said the company will not give employees their usual annual pay increase this year, blaming a fourfold rise in server prices driven by artificial intelligence and an uncertain outlook for the software industry.
