Cognizant Layoffs
Cognizant profit dips 2.1% on year, revenue up 6.8%
Nasdaq-listed IT company Cognizant raised its annual guidance projected in the range $20.3-20.8 billion, rising 3.5% to 6.0% YoY in constant currency (cc) terms. Guidance for Q1 in the $5.0-5.1 billion range. This translates into a growth up by 6.5% to 8.0% YoY in cc terms.
Cognizant may go for job cuts after slashing growth target
The Teaneck, New Jersey-headquartered firm has been cutting jobs for the last two years.
Cognizant Q1 net profit up 3% YoY; to lay off 3,500 employees over two years
Cognizant also announced a two-year rejig aimed at simplifying the operating model and rationalising office spaces to the tune of $400 million. The company is set to lay off around 3,500 employees or 1% of its total workforce.
Cognizant to lay off around 3,500 employees as part of rejig programme
Layoffs at Cognizant follow that of Accenture, which in April announced that 19,000 employees would be let go globally.
Cognizant to let go of 350 senior hands earning Rs 80 lakh-1.2 crore to bring down costs
Most of these employees are based out of India. The list has been submitted to chief executive officer Brian Humphries’ office, the people said. They are part of the 10,000-12,000 mid-to-senior level positions globally that the company said in October it would remove from their current roles in the coming quarters, the people said.
The human dimension of India’s IT woes
Many of those laid off were mid- or upper-level techies, with low lateral skills for other industries.
FITE planning group petition with Tamil Nadu labour department on alleged lay-off by Cognizant
Tamil Nadu's labour laws provide for aggrieved employees to approach the Conciliation wing of the state labour department to settle disputes with employers.
Telangana labour department calls Cognizant to discuss layoffs
Cognizant spokesperson said: “Cognizant has not conducted any layoffs. Each year, as is the best practice across our industry, we conduct performance reviews.
Cognizant begins to rationalise top deck
The voluntary separation programme could be for 300-400 executives holding the title of a director.
Techie, and worried about layoffs? These 20 skills can help you stay relevant
Jobs replaced by automation do not go for good. You can beat the gathering gloom in job market by equipping yourself with the latest tech skills.
Cognizant fires 200 senior executives
Last year, Cognizant had offered nearly 400 employees a voluntary retirement scheme but this year's move by the company to cut senior level jobs is involuntary.
Cognizant to reopen dialogue with 8 employees who claim they were forced to resign
The development on Friday is a hard-earned relief for the eight employees fearing the axe amid reports of higher-than-expected non-performer exits from the IT firm.
Cognizant President Rajeev Mehta writes to employees, assuages layoff concerns
Reports suggest that over 6,000 employees in India have lost jobs even as the company has put in place a voluntary separation programme for mid to senior execs.
ETtech Interview | No big-bang rejig; will rationalise costs and reinvest: Cognizant CEO Ravi Kumar S
Ravi Kumar S, who quit Infosys to take charge of the US firm in January 2023, says while large-scale reorganisation is not required, the company will let go of 1% of its staff and rationalise office space. This (employee impact) will be across corporate functions, overheads who are non-billable workforce, he said.
Over 3,000 US employees file class action suit against Cognizant
This is a fallout of Cognizant’s announcement in October that about 6,000 of its employees in the content moderation business for Facebook may be asked to go. The company had then said it would exit this business, and would try to find new homes for the employees involved.
Middle is where Cognizant's job cuts will hurt the most
Cognizant said its headcount growth had outstripped revenue growth in the past two quarters.
It’s the turn of Pune techies to complain of ‘illegal’ layoffs
Former employees of IT firms including Cognizant, Tech Mahindra and Wipro in Pune on Thursday filed separate petitions with the Maharashtra Commissioner of Labour against their former employers saying that their services have been terminated illegally.
Cognizant seeks 2 weeks time from Telangana govt over employees' 'resignations'
The Forum for IT Employees had filed a petition on "layoffs" by the IT giant, alleging that Cognizant was illegally terminating thousands of employees.
2023 Year in review: how layoffs hit technology and startup workers
With the year drawing to a close, ETtech looks at startups and tech companies— global and domestic—which laid off employees to cut costs amid economic uncertainties.
Layoffs in IT companies: Is it time for trade unions to come into play?
Those in support of laid-off workers say the firing policies based on performance reviews are often discriminatory.
Accenture offers 7-month severance payout to staff
Accenture is offering a seven-month severance payout to employees impacted by its latest layoffs. The package is high considering most companies offer a two-three months’ payout, or one month of salary for every year of service put in.
Layoff number exaggerated, IT industry is a net hirer of people: Nasscom
There is a gentle deceleration in net new hiring growth rate and the emphasis is shifting from scale to skills, said Nasscom.
Lay offs are deemed illegal if not carried as per Industrial Disputes Act: Minister Bhupender Yadav
Amid reports of mass layoffs by several firms, including in the IT sector, Labour and Employment Minister Bhupender Yadav on Thursday said any retrenchment and layoffs are deemed to be illegal if not carried out as per the provisions of the Industrial Disputes Act.
2025 Forecast: What does 2025 hold for India's IT services sector?
Tech outlook for 2025: India's IT sector is set for growth in 2025 with increased tech spending and hiring. The sector is likely to benefit from rising artificial intelligence deals, software spending and a resurgence in hiring. India's IT exports are projected to rise, driven by a recovery in the US market, despite some uncertainties around US policies.
Cognizant pushes back salary hikes, promotions for staff by 3 months
In an email sent to employees from Jim Lennox, CTS's chief people officer, said revisions and promotions will be effective from October 1.
IT layoff numbers are exaggerated, says top TCS executive Ravi Viswanathan
Defending the industry as a whole, Viswanathan said that early estimates from Nasscom indicate that the IT industry will be net hirers as the year ends.
IT professionals crowd the job street
Recruitment firms have received at least a few tens of thousands of queries for entry to senior levels in IT services space. Xpheno, a specialist staffing firm, has seen almost 40% spike in CVs from senior tech professionals from IT services companies over the last fortnight.
If you are techie with 5-15 years experience & based in a small city, this should worry you
According to executive search firm Head Hunters India, job cuts in IT sector will be between 1.75 lakh and 2 lakh annually for next three years.
Job cuts at Indian outsourcing firms aren't Donald Trump's fault. Read why
Global corporations, the paymasters of Indian software vendors, are no longer so keen to ante up for application development and maintenance.
ET Top Recruiters Survey: Cognizant back on top with most hires from B-schools
The ET Top Recruiters Survey found that 10 of India’s biggest recruiters hired a total of 1,175 MBA students from 26 leading B-schools in 2017.
Big hikes for Cognizant brass
The compensation increases have come at a time when the company said it was laying off as many as 200 senior executives.
Employee separation offer first time in India and US: Cognizant
The programme gives participants a chance to explore other opportunities while making way for the next generation of leaders to step up.
Cognizant to trim top deck to make room for juniors
Cognizant clarified the number of job losses that were being targeted.“The number of senior job cuts will be under 200,” a Cognizant spokesperson told ET.
Cognizant board bound to notice underperformance, execution challenges: Wedbush
Report speculative, Board fully supports strategic direction, management team: Cognizant
Are you a senior-level employee in an IT firm? There's bad news for you
Large IT services companies are all in the process of laying off employees on a scale not seen since the 2008-10 downturn.
Why being a techie in India is no longer cool
Working with a technology company in India today is fraught with risks. Indian IT is facing several challenges which has taken the sheen off the sector.
Cognizant relieving 6,000 Indians to hire in US? Techies up in arms
A bunch from the workforce in Chennai is preparing for conciliation proceedings with the state labour department in what they claim is a fight against retrenchment.
Sub-prime heat hits India; IndyMac cuts jobs
IndyMac’s move could impact about 400-450 people at Cognizant Technology Solutions, ExlService Holdings and WNS. IP add in cyber crime I Firing employees?
Layoffs spread to Dunzo, ShareChat, Rebel Foods, and agritech firms
The latest developments are an extension of what has transpired in the so-called new economy over the last six to eight months. Layoffs at tech startups are expected to continue until the end of quarter, after which the situation could improve, industry experts said.
Cognizant bucks trend, to hand out good bonus
The IT major, which has most of its facilities in Chennai and Bangalore, is paying employees the full variable pay component this year. Cities that are IT hubs | Nine trends for IT
11 Tech Mahindra employees move labour court
Last month, Mahindra Group Chairman Anand Mahindra had tendered apology over the manner in which an employee of Tech Mahindra was asked to quit.
Donald Trump blamed for job losses as India tech workers face cuts
Cognizant, Infosys, Wipro won’t disclose how many jobs they cut, but it appears the industry is going through one of the largest retrenchments in its history.
CITU condemns mass retrenchment of IT employees
"All these IT multinational companies have been earning huge profits and there is no reason to retrench employees. The firing operations are being taken up on the pretexts of ‘growth plans', ‘restructuring', ‘role rationalisation' etc, which are nothing but measures to maximise their profits at the cost of employees," CITU said in a statement.
Reskill to survive: Tech firms retrain staff on war footing
Accenture, Infy, TechM, Cognizant, MphasiS investing to make workforce future-ready.
No mass layoffs by Indian IT companies, workforce realignment happens every year: Nasscom
"Such reports are incorrect. In fact the industry continues to be a net hirer with over 1.5 lakh people being employed on a net basis each year," Nasscom said.
No mass job cuts, freshers to get 20% more from next year, says Cognizant
Cognizant slashed its revenue growth guidance earlier and said it was looking at cutting jobs to reduce costs.
Cognizant cuts bench time, puts pressure on employees
Cognizant has cut the bench time for employees, opening up the possibility of more exits.
IT companies Cognizant, Capgemini hired 1.5 lakh less hands in 2023
Global hiring decline in 2023 impacted major IT companies like Cognizant and Capgemini. Indian IT firms also faced headcount reductions. Everest Group attributed layoffs to Covid over-hiring, while Gen AI influenced hiring decisions.
Nearly 1,000 senior, mid-level Infosys employees may be asked to leave
Large IT services firms, according to reports, are in the process of laying off employees on a scale not seen since the 2008-10 downturn.
Cognizant may lay off more, delays campus hires
Under new CEO, Cognizant is undergoing a widespread restructuring aimed at boosting growth & lowering costs.
Prosus-owned developer platform Stack Overflow lays off 10% of workforce
Stack Overflow, a question and answer website for programmers, has laid off 10 per cent of its workforce, or 58 employees, amid global macroeconomic pressures and focus on profitability.
Microsoft-owned LinkedIn fires 716 employees in fresh round of layoffs
The employment-focused professional network had also announced layoffs in February this year.
Can Cognizant write its success story with a robotic automation drive?
Francisco D’Souza said by implementing IPA technologies, Cognizant is driving savings and transforming core processes to help companies become digital enterprises.
Government allays IT job loss fears, says working on H-1B issues
Sundararajan said the industry was continuing to grow at 8-9% this year, same as last year, and reports of massive job losses in the industry were untrue.
No downsizing, to hire more: TCS chief Rajesh Gopinathan
"We are here to create jobs, not to downsize," he asserted after TCS launched a BPO centre here to create new opportunities as part of the government's Digital India push.
After Cognizant, other IT biggies like Wipro and Infosys also prepare for layoffs
Those taking the hit first are mid- and senior-level professionals. But lower level employees, too, will be hurt later in the year due to sluggish growth.
Cognizant lays off employees across multiple India locations
Vinod AJ, general secretary of the All India Forum for IT Employees (AIFITE), said Cognizant employees across Chennai, Bengaluru, Hyderabad, Pune, Kochi and Kolkata have been affected.
AIITEA mulls IT Employees United Front to address layoffs
"We are planning to organise a united front of IT employees associations to hold talks with Karnataka govt to resolve the issue," an AIITEA official said..
Now jobs losses at IBM India, 5,000 employees under fire
IBM did not confirm the number of employees who will be affected but said that "re-skilling and rebalancing is an ongoing process as we accelerate the benefits of cloud technologies for clients."
Credit Suisse plans to cut down outsourcing to Wipro
Swiss bank Credit Suisse, which announced global layoffs of 5,300 last week, is significantly reducing work to Wipro.
Cognizant to focus on large deals, employee retention to trigger growth: India MD
The New Jersey-headquartered firm will be more employee centric, strengthen on winning larger deals and better operational metrics in order to “accelerate growth”, according to Rajesh Nambiar, MD and Chairman of Cognizant India.
Mobile makers to hire 60,000 over a year; digital economy to push India GDP: MoS IT
With the demand for India-made mobile phones on the rise, staffing firms expect handset makers to hire some 60,000 people over the next 6-12 months.
Cognizant to retain digital talent in slowdown, anticipating recovery
The Teaneck, New Jersey-based IT services provider earns around 38% of its $16.8 bn revenue from digital businesses.
Credit woes: IT cos may cut 25K jobs
The banking, financial services and insurance (BFSI) segment is the largest outsourcing vertical for Indian technology players.
Sad over recent IT layoffs, says Narayana Murthy
Infosys had announced that it could hand out pink slips to hundreds of mid and senior-level employees as it carries out bi-annual performance review.
Cognizant: Mighty growth engine comes to near halt
Two things happened around 2016 that might provide a clue to this collapse.
Retrenchments common in IT industry: Telangana minister K T Rama Rao
A few employees of Cognizant recently approached the state Labour Department alleging that the IT company was forcibly taking resignations from employees citing poor performance.
Infosys lays off mid, senior level executives
The company is letting go of 10% of the workforce, or around 2,200 people.
Layoffs in 2023: Microsoft, Cognizant, Accenture among latest firms to cut jobs amid economic turmoil
The layoff wave has swept not only startups and mid-sized firms, but also big tech companies such as Amazon, Microsoft, and Google parent Alphabet, among others.
Cognizant merges two service lines into one new unit, appoints Malcolm Frank incharge
The new service line -- Digital Business and Technology -- will be headed by current president and head of digital business, Malcolm Frank.
Combined capabilities of TriZetto & Cognizant can let us cash in on big opportunities: Rajeev Mehta, CEO of IT services, Cognizant
"We have to retrain and reskill our staff and I think you saw a conscious effort on that over the last couple of quarters….we still have some work to do."
IT companies to shed 5-10% of mid-level workforce: Ex-CFO of Infosys
IT cos have no choice but to lay off some of their mid-level staff to become more agile, said ex-CFO of Infosys.
IT employees get nod to set up trade union in Karnataka
The nod to set up India's first dedicated IT employee union is a significant moment, the first big breakthrough for techies grappling with prospects of job loss.
Layoff season: IT staff head to school to stay in the reckoning
“The growing realisation among Indian workforce that reskilling is the only way to stay competitive led to a 37% increase in registrations during the February-April period compared to last year," said Raghav Gupta, India country director, Coursera.
Layoffs scare is real, not exaggerated, finds ET's Jobs Disruption survey
The stark takeaway from ET's Jobs Disruption survey of nearly 11,000 employees is that the fear of job losses is not overblown but a near-term reality.
Indian techies take to social media to vent their ire
The job cuts are also affecting mid-to-senior employees who are at the centre of the reskilling and restructuring conversations happening across the sector
Infosys chief Vishal Sikka calls on FM Arun Jaitley
Over the past few months, Indian IT companies are confronted with closer scrutiny and tighter visa norms in the US, a market that accounts for nearly 60 per cent of India's IT exports.
Now Tech Mahindra looks to lay off hundreds on 'performance' ground
The company did not specify the number of employees that could be asked to leave. Industry sources suggest that the number would run into hundreds.
Reports of job losses overstated, to hire 20,000 this year: Infosys
"Layoffs are regular, performance-based things that we do every year. The number is really 300-400," Infosys COO UB Pravin Rao said.
IBM cuts 3,900 jobs, misses annual cash target
Chief Financial Officer James Kavanaugh told Reuters that the company was still "committed to hiring for client-facing research and development". The layoffs - related to the spinoff of its Kyndryl business and a part of AI unit Watson Health - will cause a $300 million charge in the January-March period, IBM said.
IT companies tighten costs, hire less experienced staff
To retain margins, IT cos are increasing proportion of fixed cost projects in revenue, tightening costs and recruiting more freshers, less experienced staff.
Indian IT employees stare at a mid-life crisis
The axe will fall mainly on midlevel employees and those who haven’t picked up relevant skills.
Not pessimistic on IT jobs, startups should help: Urjit Patel
While there could be pressure on employment in some of the IT sectors, it is not necessarily in terms of literally a job destruction, said Urjit Patel.
Layoffs coming to the Indian IT sector? Analysts say Accenture’s jobs cuts offers a ‘blueprint’
In spite of the many startups laying off employees since last year, the Indian IT sector has so far remained resilient. However, the recent announcement by global IT major Accenture that it will cut 19,000 jobs has brought back some of the fears again. Accenture has opted for retrenchments to drive resilience. “We are trying to cut structural costs so that we are in a better position. We are trying to mitigate the cost by driving efficiency,” Sweet added.
Exclusive: Delhivery CEO Sahil Barua on daring IPO; Cognizant to go fully hybrid by early 2023
One company has chosen to plough ahead despite the less-than-ideal conditions. We spoke to Sahil Barua, founder and CEO of Delhivery, in an exclusive interview to find out why.
Satyamites fear of layoffs as Tech Mahindra takes over
As customers seek to lower IT spend, many Satyam employees fear that Tech Mahindra could look at rightsizing the company.
Why Cognizant’s Rs 2.5 LPA offer is causing a social media stir
Cognizant's off-campus placement drive, offering a ₹2.5 LPA salary to fresh graduates, has sparked online criticism, highlighting stagnant entry-level wages since 2002. This comes at a time when the disparity between CEO and employee pay is growing in the IT sector, with CEO compensations soaring. The widening gap is raising concerns about fairness in compensation, especially in a job market facing layoffs and AI-driven changes. Social media reactions reflect the growing discontent among the public.
