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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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Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.
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