- American IT company Cognizant will lay off around 12,000 employees worldwide
- Out of these 5 thousand employees will be trained and hired again.
- Cognizant has about 2.9 lakh employees, of which around 2 lakh are Indians.
- The company’s performance has improved in the July-September quarter and earnings have increased.
The American IT company will lay off 7,000 mid-senior level employees in the coming months under the name of Cognizant Cost Cutting. Apart from this, the company is also thinking of going out of the content moderation business.
The cognizant company going to layoff 7000 employees
After announcing the quarterly results, a statement was issued on behalf of the company on Wednesday, saying that in the coming months. However, the company has decided to lay off around 12,000 medium and senior-level employees across the world.
Cognizant employs around 2.9 lakh employees, of which 2 lakh are Indians. Cognizant’s new CEO Brian Humphries recently began a restructuring process to turn the company into profitable. However, and cost-cutting began in May.
5,000 employees will re-admitted
The statement further said that she would re-train around 5,000 of these employees to create skills and recruited again. Earlier in May also, the company had trimmed the middle-level officials in the name of cost-cutting.
The company’s performance has improved in the July-September quarter with total revenue of $ 4.25 billion. However, the company’s revenue was $ 4.14 billion in the previous quarter.
About 2 lakh Indians in the company
Cognizant’s new CEO, Brian Humphries, recently began a restructuring process to bring the company to profit. For this, they adopted the path of cost-cutting. However, the company employs about 2.9 lakh employees, of which around 2 lakh are Indians.
The total number of employees in the company was 2,89,900 as of 30 September 2019.
Brian Humphries replaced Cognizant veteran Francisco D’Souza as the CEO of the company in April this year. Humphries told Mint earlier this month that he is trying to re-establish Cognizant to its bellwether status and accelerate its digital position in four key areas – cloud, digital engineering, data, and IoT.
