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Cognizant To Layoff 6000 Employees This Year
20 March 2017, 05:53 | Justin Tyler
Cognizant likely to lay off 6000 employees
Cognizant has over 265000 employees.
The company's workforce number stands at around 260000 at the moment with nearly three-fourths of the employees based out of India. The reports also said that the variable pay at Cognizant is also going to be adversely affected.
In 2015, the company's lay-off was 1%, while the layoffs were about 1-2% in 2016 but this year the number is expected to shot up to 2.3%, reported Times of India.
US-based IT major Cognizant Technology Solutions may cut 6,000 - 10,000 jobs in a move that will reduce its workforce by 2.5 - 5%, according to media reports. Cognizant, leading software company is planning to shift from regular IT company to provide digital service. 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.
As per the company employees more than 2,60,000 globally. "What's more, Cognizant won't be distant from everyone else in this, most IT organizations will have thorough examination handle this and workers who have not taken endeavors to re skill won't think that its simple in the following two years", says an ET source. "Any actions as the result of this process are performance-based and generally consistent with those we've made in previous years", a company spokesperson told NDTV. It is quite common that every year in March all the IT companies usually weed out the bottom one percent non performing employees.
He had also said that Cognizant will leverage its scale to prove costs in 2017 and 2018 through cost-optimisation of traditional offerings such as applications, infrastructure and process services.
"At the same time, we continue to enhance our capabilities and hire for roles across all our practice areas in the company", he said.
However, a long-term employee of the company on the condition of anonymity told IANS that the layoff numbers may not vastly differ this year from its regular annual layoff numbers post completion of employee appraisals.
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