Cognizant likely to lay off 6000 employees

Cesar Mills
March 20, 2017

So Cognizant is making a cut in their employee stands with around 6000 employees to be fired.

The company's workforce number stands at around 260000 at the moment with nearly three-fourths of the employees based out of India.

The company's latest count of layoff represents 2.3% of its total work force and it struggles with growth in an IT environment that is fast shifting towards new digital services, it said.

The variable pay system, common in IT companies, is also likely to be adversely impacted this year, according to sources familiar with the inner workings of the company.

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Software major Cognizant might lay off more than 6,000 of its over 265,000 employees as part of its appraisal cycle this year, according to a report. US listed multinational company, leading IT pioneer in India, who market has grown over the years in India is now planning to slash 6000 employees. The company's revenue for the quarter was up 7.1% compared to the same quarter previous year.

As on December 2016 quarter, the U.S. based company's employees globally stood at around 260,000, with over 75 percent of them in India, as experts believe the company struggles to survive in an IT world that's fast moving towards the digital space. In any given year, the numbers may bounce a percentage here and there, but resizing our employee base is a part of our standard practice.

As every company performs regular review, the company spokesperson said that Cognizant review performances of its employees. "And Cognizant will not be alone in this, most IT companies will have rigorous appraisal process this and employees who have not taken efforts to reskill will not find it easy in the next two years", says an ET source. "This process results in changes, including some employees transitioning out of the company", a Cognizant spokesperson said.

Other reports by GizPress

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