Cognizant to Layoff 12,000 Employees in Upcoming Quarters

New Delhi, November 1, 2019:

India's second largest software company, Cognizant has decided to remove at least 12,000 employees from their current posts in the next quarters.

According to reports, CEO Brian Humphries informed that the move was to improve the cost structure and invest in some planned future ventures.

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The company plans to remove about 2% of its total workforce. According to the software giant, the move is aimed to re-skill and re-hire around 5,000 of the employees.

Humphries added that the larger plan involved certain content work within the Digital Operations team that is not in line with the company’s long-term strategic vision. According to experts, this could impact an additional 6,000 employees globally and the revenue of the Communications, Media and Technology segment.

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The news comes amidst rising job slashes in India over the past few months. Recently, the automobile industry was in limelight for firing at least 5,000 contract workers from the hub of automobile manufacturing, Tamil Nadu.

Firing of employees has become a major concern across the country. Cognizant is the new entrant in the job slashing practice, in order to boost quality services to the consumers.

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