As per a report in the Economic Times, the company may fire more than 6,000 employees this year.
"As part of our workforce management strategy, we conduct regular performance reviews to ensure we have the right employee skill sets necessary to meet client needs and achieve our business goals. This process results in changes, including some employees transitioning out of the company," TOI quoted a Cognizant spokesperson.
The reason stems also from the fact that with more & more automation entering the IT industry, the companies are looking at cutting costs which means employees will be let off jobs.
As per reports, the 6,000 employees that the company is planning to lay off will constitute the bottom 1% of the employees on the performance scale. Globally, Cognizant has 2,60,200 employees out of which 1,88,000, 72% are based in India.
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