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6000 CTS employees to lose job this year
Posted on: 20/Mar/2017 12:55:25 PM
Reports from renowned journals alert that leading IT player Cognizant is likely to lay off 6000 employees this year.
As much as 2.3 percent cut down in employee count is expected from the IT Company. CTS as popularly called, has got significant workforce here in India.
In his note about this, a Cognizant spokesperson said the company conducts regular performance reviews and make sure that the employees are equipped enough to cater to client requirements and aid the company in achieving its business goals. This is a part of our workforce management strategy, he claims. Changes and inclusion or removal of employees belong as a part of the process, he adds.
While the usual lay off percent will be around 1 percent, now, in this year, more layoffs are likely for non-performance.
The layoffs were just 1 to 2 percent last year and the same was hardly 1 percent two years ago. Globally, as of 31st December last year, Cognizant had 2,60,200 employees out of which 72 percent of them i.e. 1,88,000 employees are from India.
Cognizant rivals with other IT players like TCS or Infosys. The company has been absorbing double digit growth for years previously, but it is the most challenging time for the tech giant with revenue growth of about 8.6 percent.
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