Cognizant, the New Jersey-headquartered software services company with most of its operations in Chennai, is likely to lay off 6,000-10,000 “ redundant and non-performing” employees.
“When global competition stepped in, Indian companies went through multiple levels of devaluation – for example in the classic case of Flipkart vs Amazon, Uber vs Ola, and InMobi vs Facebook,” said Sanchit Vir Gogia, Chief Analyst and CEO of Greyhound Research.
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