Cognizant Slashes Jobs As Part Of Cost Cutting, Revamp Plan

Cognizant Technology Solutions will eliminate as many as 7,000 mid-senior level jobs globally and reskill about 5,000 employees as part of a plan to save costs and simplify the company’s organizational structure.

“Such layoffs are already happening quietly in the industry so this is not something unexpected. A lot of the IT services companies are pruning to grow in areas that are strategic to them. From the company’s perspective, it’s like a necessary evil where they have to take tough decisions as per their growth strategy,” said Sanchit Vir Gogia, chief analyst at Greyhound Research.

[HT Mint]


Analyst:

Sanchit Vir Gogia: Sanchit is the Chief Analyst, Founder & CEO of Greyhound Research, a Global, Award-Winning, Technology & Innovation Research & Advisory firm. To read more about him, click here.

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