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.
Have a question on this or other Technology & Innovation topics? Click here to set up an enquiry call with Sanchit Vir Gogia.
Copyright © 2019 Greyhound Research. All rights reserved. You may share this research note using the options made available. Please don’t copy this research note (complete or parts) and distribute over the web and emails. Connect with us if you need clarifications.