Cognizant to slash 350 jobs
IT firm Cognizant will lay off around 350 highly paid employees, most of them aged 50 to 55 years and based in India, according to a news report. The move is said to be part of the recent structuring program undertaken by chief executive officer Brian Humphries, who announced in October that the company would slash around 10,000 to 12,000 mid-to-senior level jobs.
Humphries said the move aims to optimize costs while also investing in reskilling and growth, but clarified that around 5,000 employees would be reskilled and redeployed. Cognizant has turned towards digital-led services from traditional software implementation services.
Analysts said that the recent move will help bring down the firm’s costs despite the small number of laid-off workers, as their salaries are relatively high.
