IT services major Cognizant is weighing a heavy reduction in workforce that could impact 12,000-15,000 employees worldwide, with the bulk of the layoffs expected in India
The company employs more than 357,000 people, with most, over 250,000, based in India.
Industry executives pointed out that clients are increasingly moving away from traditional pyramid-heavy staffing models.
“Customers are not okay with full pyramids anymore and don’t want to fund training of freshers,” one of the executives said, highlighting a structural shift in how IT services are being delivered.
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