Cognizant layoffs 2023: The recent announcement by global IT services company, Cognizant, that they may be laying off around 3,500 employees in the coming months.
According to the report, the company has been struggling with a number of challenges, including slower growth rates and increased competition in the industry. This has led to a need for cost-cutting measures, which could result in job losses for some of its employees.
Cognizant layoffs
The layoffs are expected to primarily affect mid-to-senior level employees in the Cognizant company’s content moderation, digital operations, and marketing roles, and will be spread across various locations in India.
In a statement, Cognizant said that the decision to lay off employees was a difficult one, but was necessary in order to streamline its operations and improve its overall financial performance. The company also noted that it would be offering generous severance packages and other support to affected employees.
This layoffs news is likely to be concerning for employees at Cognizant and their families, as well as for the broader IT industry in India. However, it is also a reflection of the ongoing challenges facing companies in the sector, as they adapt to changing market conditions and seek to remain competitive in an increasingly crowded marketplace.
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