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Monday, March 20, 2017

Cognizant job cuts to lay off 6000 employees

IT major Cognizant (CTS) is all set to cut 6000 jobs which is 2.3% of its total strength. So 6000 employees will lost there job. Also there will be huge cut in the variable pay for this year.

Also read: CTS to appoint 3 directors return $3.4 billion to shareholders

Cognizant is said to be looking to cut roles that have become redundant due to the impact of automation on lower-end IT jobs. Last year, the layoffs were about 1-2% while two years ago, it was about 1%. Cognizant had 2,60,200 employees globally as on December 31, with 1,88,000, or 72%, based in India.

Cognizant spokesperson said, As part of our workforce management strategy, we conduct regular performance reviews to ensure we have the right employee skill sets necessary to meet client needs and achieve our business goals. This process results in changes, including some employees transitioning out of the company.

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