Thursday, 4 May, 2023

Cognizant to Lay Off 3,500 Employees; Revenue Expected to Decline Due to Digital Shift

Cognizant has announced that its revenue is expected to decline in 2023, resulting in a layoff of around 3,500 employees. The decline is due to the company's shift towards digital services, resulting in a drop in traditional IT services. Cognizant plans to reskill and redeploy affected employees to support its digital transformation efforts. It aims to invest in strategic areas such as data, cloud, and digital engineering services to drive future growth.