Cognizant’s net drops for the first time
Global professional services provider Cognizant’s quarterly and annual profits dropped for the first time, declining 2.3% and 0.8% respectively in 2020.
In Q4 2020, Cognizant’s net income or profits declined to $316 million from $395 million in the previous quarter. For the whole year, profits went down 24 per cent at $1.33 billion over 2019.
The firm’s quarterly attrition also rose to 16 per cent from 10 per cent on a sequential basis
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