Cognizant fires 200 senior executives
Thursday, October 11, 2018 IST
As part of its workforce management strategy, Cognizant has let go of about 200 senior employees. The move is aligned to tailor its workforce to newer digital requirements.
The move is likely to cost the Teaneck, New Jersey-headquartered company $35 mn in severance payouts, a report in the Times of India said.
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.
“As part of our ongoing workforce management strategy, we ensure we have the right employee skill sets necessary to meet client needs and achieve our business goals. This process has resulted in changes, including some employees transitioning out of the company. We continue to enhance our capabilities and hire for roles across all our practice areas in the company. Details of severance or any other conditions of employment are confidential,” the company said.
In an interview to The Economic Times in August, Raj Mehta, President at Cognizant, had said,"We are trying to clean up the higher end of the pyramid and allow our associates to grow."
In the same interview, Mehta had added that this was a global exercise and was not focused on a particular region and that the company’s headcount had grown in the (second) quarter. Cognizant’s headcount rose by 7,500 in the second quarter to 268,900.
Some of those who have been affected by the move said that they were asked to sign mutual release agreements specifying that they won't press legal charges against the company, the report in the Times of India added.
Related Topics
Related News & Articles
AHMEDABAD: Firing fresh salvo at the Bharatiya Janata Party (BJP) and Prime Minister Narendra Modi ahead of upcoming Gujarat polls, Congress...
Recently posted . 524 views . 3 min read
Soon after taking over in September last year, Railways Minister Piyush Goyal had instructed officials to not use their juniors for menial jobs.
Recently posted . 518 views . 1 min read
The father-daughter duo came face to face while doing their duty at the public meeting of Telangana Rashtra Samithi (TRS) at Kongara Kalan on the outskirts of Hyder...
Recently posted . 555 views . 1 min read
Developed indigenously by DRDO, the Man Portable Anti-Tank Guided Missile (MPATGM) system is equipped with many advanced features, including ultra-modern imaging ...
Recently posted . 539 views . 2 min read
After getting sacked for alleged unprofessional behaviour, the employee had threatened the HR head of Mitsubishi of dire consequences. But the HR head did not tak...
Recently posted . 572 views . 1 min read
Trending News & Articles
While the Uttarakhand High Court has asked to block 857 websites, the Ministry of Electronics and IT (Meity) found 30 portals without any pornographic content.
...
Recently posted . 61K views . 1 min read
The four boys as well as five school officials, including the director and principal, were arrested after the incident. The minors were presented before the Juvenil...
Recently posted . 8K views . 1 min read
Rahul was having an Italian passport and was carrying suitcase full of dollars. Some say it was about was it $2 million.
Rahul and his girl friend was th...
Recently posted . 7K views . 7 min read
True – Tr...
Recently posted . 6K views . 83 min read
More in National
On the 50th birthday of Beohar Rajendra Simha on 14 September 1949, Hindi was recognised as the official language of the country.
Recently posted. 577 views . 0 min read
Indian Railways is in the final stages of diluting its flexi-fare scheme which was introduced in September 2016 - a move that will come as a big relief for passen...
Recently posted. 527 views . 2 min read
Rai said the matter came to light when the deceased’s neighbours informed her landlord about blood flowing out of her room on Monday morning. A scissors, a bl...
Recently posted. 471 views . 1 min read
Recently posted . 1K views
Recently posted . 1K views
Recently posted . 1K views
Recently posted . 1K views
Recently posted . 1K views . 31 min read
Recently posted . 1K views . 48 min read
New Delhi: Pakistan killing two soldiers and mutilating their bodies is an extreme form of barbarism and the armed forces will react to...
Recently posted. 600 views . 12 min read
It's good news for homebuyers as the Union Cabinet on Wednesday reportedly approved amendments to the Insolvency and Bankruptcy Code (IBC), presumably allowin...
Recently posted. 557 views . 1 min read