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Cognizant to depose more than 6000 employees
20 March 2017, 05:55 | Ross Houston
Cognizant likely to lay off 6000 employees
While Donald Trump's ascent as U.S. president is already creating panic among IT employees in India, many companies are scaling down their workforce due to automation. So Cognizant is making a cut in their employee stands with around 6000 employees to be fired.
According to several media reports, Cognizant is likely to lay off more than 6,000 employees or around 2.3% of its workforce which is more than the annual exercise of sacking bottom 1% of the workforce for non-performance. "As we enter 2017, the time is right for us to accelerate the shift to digital services and solutions to meet the growing demands from our clients to transform their business models in the face of the rapid business and technology shifts disrupting their industries", Francisco D'Souza, the chief executive officer at CTS, had said in a statement on February 8, 2017.
In 2016, the lay offs in Cognizant were about 1-2%, while in 2015, it was about 1%.
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CTS has seen its employee strength rise from 2,11,500 in 2015 to 2,44,300 a year ago, according to The Statista. Nasdaq-listed Cognizant approximately had 2.6 lakh employees as of December 31, 2016. Resizing the employee base is a part of standard practice. "At the same time, we continue to enhance our capabilities and hire for roles across all our practice areas in the company", the spokersperson added. This procedure brings about changes, including a few representatives transitioning out of the organization", said a Cognizant representative."Any activities as the aftereffect of this procedure are execution based and for the most part steady with those we-'ve made in earlier years.
However, a long-term employee of the company on the condition of anonymity told IANS that the layoff numbers may not vastly differ this year from its regular annual layoff numbers post completion of employee appraisals.
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