IT woes: Cognizant may slash more than 10,000 jobs

The company is also investing extensively in training and re-skilling its team

Latest News : US-listed IT (information technology) major Cognizant Technology Solutions, which has a significant workforce in India, is said to be reducing its employee count by as much as five per cent.

Typically, the bottom one per cent of the workforce is weeded out for non-performance, a common practice across IT firms as part of the annual appraisal exercise that ends in March. But as the company is shifting its focus from traditional IT services to digital, Cognizant is reportedly looking ahead at trimming its workforce in larger number by doing away with redundant roles. Globally, the company employs around 260,000 employees, of this around 75 per cent of the workforce is based in India.

A Cognizant spokesperson said as part of its workforce management strategy, the company conducts regular performance reviews to ensure it has the right employee skill sets necessary to meet client needs and achieve its business goals.

“This process results in changes, including some employees transitioning out of the company. Any actions, as a result of this process, are performance-based and generally consistent with those we’ve made in previous years. 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. At the same time, we continue to enhance our capabilities and hire for roles across all our practice areas in the company.”

This year, the appraisal cycle comes in the backdrop of various industry-changing developments. The digitisation and automation wave, which has caught up in the industry in recent times, would have an impact on the cutting down of manpower, say sources. Read more

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