Cognizant Layoffs in 2023: Many companies have been affected due to the fear of recession in America and Europe countries.
The round of retrenchment is going on at the global level including India. There has been more layoffs in the year 2023 as compared to last year . From January to April, many big companies have fired employees and now the name of another company has been added to this list.
America’s big company Cognizant has now decided to lay off 3,500 employees. Earlier, many IT companies including Facebook, Microsoft and Amazon have shown the way out to more than 1.5 lakh employees. It has also affected the employees of India.
Why are you laying off
Ognizant’s revenue has registered a year-on-year decline of 0.3 percent and the revenue has reached $ 4.81 billion. The profit of the company has increased year after year, which has registered an increase of about 3 percent. The company’s bookings for the quarter stood at $25.6 billion on a trailing twelve month basis, up from $24.1 billion in Q4FY22. The company has decided to lay off to manage its expenses.
how many employees are there now
Presently there are 3 lakh 55 thousand 300 employees in Cognizant. The layoffs at Cognizant followed Accenture, which announced it would lay off 19,000 people. Cognizant has given the responsibility of this decision to the NextGen program, under which the company has said that it wants to simplify its operating model.
IBM will replace with AI
EBM has decided that it will no longer be hiring employees. Rather, he will recruit AI instead. About 7800 employees will be replaced by AI. At the same time, Disney has recently announced that it will lay off 4 thousand employees. Earlier he had asked to withdraw 7000.
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