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<ul><li><keyword id="28721" type="COMPANY" weightage="20" keywordseo="Cognizant">Cognizant</keyword> is planning to layoff staff. As many as 7,000 mid level and senior level jobs are on the line. </li><li>Another 6,000 jobs may also be affected, globally as the IT major plans to close down its content moderation services. </li><li>Cognizant posted a quarterly revenue of $4.25 billion, 4.2% up from last year.</li></ul>American technology multinational Cognizant is expected to lay off hundreds of employees to cut costs. According to an ET <a href="https://m.economictimes.com/tech/ites/cognizant-to-cut-7000-mid-senior-level-jobs-exit-content-moderation/articleshow/71829299.cms">report</a>, as many as 7,000 mid and senior level jobs are on the line — accounting for 2% of its workforce. As many as 5,000 employees will be redeployed into other job roles. “To improve cost structure to partially fund these investments and advance Cognizant’s growth agenda, it has made the decision to remove approximately 10,000-12,000 mid-to-senior level associates worldwide from their current roles in coming quarters. The gross reduction is expected to lead to a net reduction of approximately 5,000 to 7,000 roles as the company aims to reskill and redeploy approximately 5,000 of the total associates impacted,” Karen McLoughlin, CFO, Cognizant said. Given the job cuts, the company expects to save up to $500 million in the next two years Another 6,000 jobs may also be affected globally as the IT major plans to close down its content moderation services — including social media platforms like <keyword id="6354576" type="UNKNOWN" weightage="20" keywordseo="facebook">Facebook</keyword>. It will exit the services focussed on identifying objectionable content, keeping in mind the mental health of moderators, the company said. “Exiting this area will impact an additional approximately 6,000 roles worldwide, though the company intends to work with its partners to explore ways to transition the roles to alternative vendors, thereby reducing the impact to associates,” ET <a href="https://m.economictimes.com/tech/ites/cognizant-to-cut-7000-mid-senior-level-jobs-exit-content-moderation/articleshow/71829299.cms">reported</a> citing company executives. The closure of content moderation services will also impact its communications, media and technology verticals. “Cognizant is aligning with clients’ digital imperatives, and doubling down on four key areas — Data, Digital Engineering, Cloud and Internet of Things (IoT),” the company noted. The company posted a 4.2% increase in its third quarterly revenue at $4.25 billion, as compared to the same period last year. It also witnessed a $20 million jump in its net income at $497 million, compared to $477 million last year. At the same time, it is trying to boost revenues by tightening travel budgets, and increasing variable pay. In 2018, Cognizant also introduced a <a href="https://www.businessinsider.in/cognizant-begins-voluntary-separation-program-for-senior-staff-report/articleshow/69515809.cms">voluntary separation </a>programme for senior executives. Under this, it offered 12-month salary and stock benefits depending on the employee’s tenure in the organisation. See also: <a href="https://www.businessinsider.in/policy/news/h-1b-visa-rejection-rates-rise-sharply-30-of-cognizant-capgemini-accenture-wipro-and-infosys-applications-denied/articleshow/71821596.cms">H-1B visa rejection rates rise sharply — 30% of Cognizant, Capgemini, Accenture, Wipro and Infosys applications denied</a> <a href="https://www.businessinsider.in/case-against-accenture-cognizant-caspex-for-bad-leave-policy-and-long-working-hours/articleshow/71074536.cms">Cognizant, Accenture and Caspex accused of 'white collar slavery' in a new lawsuit</a> <a href="https://www.businessinsider.in/cognizant-to-hire-500-sales-professionals-to-boost-its-digital-technology-services/articleshow/70954946.cms">Cognizant will hire 500 sales staff and looks to poach ‘disillusioned’ IBM employees</a>

7,000 Cognizant jobs are on the line as the tech major rejigs workforce

<ul><li>American IT multinational <keyword id="28721" type="COMPANY" weightage="20" keywordseo="Cognizant">Cognizant</keyword> is planning to hire over 20,000 digitally-skilled technology graduates in 2020 in India. </li><li>The tech major is also scaling up the average compensation for campus <keyword id="6390508" type="COMPANY" weightage="20" keywordseo="freshers">freshers</keyword> by 18% — to ₹400,000 per annum. </li><li>Cognizant is looking to strengthen its core areas — data, digital engineering, cloud, and the internet of things.</li></ul>After a massive structural rejig with layoffs and cut costs last year, American IT multinational Cognizant is back to sprucing up its employee base. It is looking to hire over 20,000 Indian tech graduates in 2020 who are ‘digitally-skilled’. It is also scaling up the average compensation for campus freshers to ₹400,000 per annum. This is an 18% surge from last year’s <keyword id="121400" type="PERSON" weightage="20" keywordseo="campus-placements">campus placements</keyword> last year. “We continue to be a net hirer of engineering, science, management and other graduates as well as experienced professionals. With more and more students in campuses becoming digitally ready, we have announced a 30 percent increase in our hiring of engineering and science students for 2020,” the company spokesperson said. It is also expanding in India. <a href="https://www.thehindubusinessline.com/info-tech/cognizant-opens-new-facility-in-mangaluru/article30759590.ece">Last week</a>, Cognizant became operational in Mangaluru with its new facility that can accomodate 1,100 employees. The company presently has nearly 80 clients in India across industry verticals. <a href="https://www.livemint.com/companies/news/cognizant-to-hire-more-than-20-000-students-in-india-this-year-hikes-salaries-by-18-11581335580929.html">According to</a> <keyword id="3928377" type="PERSON" weightage="20" keywordseo="Brian-Humphries">Brian Humphries</keyword>, CEO of Cognizant, India is an attractive market. “The acceptance rate for offers we have made in about 100 premier engineering campuses is more than 80%, reflecting increased confidence in the company. This is much higher than recent years,” he said. Cognizant’s core areas — data, digital, cloud, and IoT Expanding the base of engineers and tech graduates is a part of its strategy to build on new age businesses — by hiring those with digital skills. Its digital revenue has been growing by more than 20% year-on-year. It is hence looking to strengthen its core areas of — data, digital engineering, cloud, and internet of things (IoT). The hiring comes right after extensive <a href="https://www.businessinsider.in/careers/news/7000-cognizant-jobs-are-on-the-line-as-the-tech-major-rejigs-workforce/articleshow/71830898.cms">job cuts in Cognizant</a> in 2019. As many as 7,000 mid and senior level jobs were axed — accounting for 2% of its global workforce. The company had said that nearly 5,000 employees will be redeployed into other job roles. “To improve cost structure to partially fund these investments and advance Cognizant’s growth agenda, it has made the decision to remove approximately 10,000-12,000 mid-to-senior level associates worldwide from their current roles in coming quarters,” <keyword id="943814" type="PERSON" weightage="20" keywordseo="Karen-Mcloughlin">Karen McLoughlin</keyword>, CFO of Cognizant had said. The job cuts were expected to help the company save $500 million by 2021. <keyword id="3216616" type="LOCATION" weightage="20" keywordseo="reskilling">Reskilling</keyword> is a priority, says Cognizant Cognizant is also looking to <a href="https://www.businessinsider.in/careers/news/cognizant-and-capgemini-are-taking-steps-to-reskill-over-60000-employees/articleshow/72154055.cms">re-skill its employees</a> in new-age technologies which are its business areas. “To ensure we have the right digital skills in a supply-constrained environment, we have doubled our investment in <keyword id="272346" type="COMPANY" weightage="20" keywordseo="Cognizant-Academy">Cognizant Academy</keyword> in 2020. To accelerate our digital momentum, we believe we need to hire or reskill approximately 25,000 resources in 2020, and we have started to operationalise this," Humphries <a href="https://www.livemint.com/companies/news/cognizant-to-hire-more-than-20-000-students-in-india-this-year-hikes-salaries-by-18-11581335580929.html">said</a>. As companies restructuring to usher in a digital era, skilling projects however run parallel to job losses. See also: <a href="https://www.businessinsider.in/careers/news/cognizant-and-capgemini-are-taking-steps-to-reskill-over-60000-employees/articleshow/72154055.cms">Learn or leave — tech majors are either reskilling employees or slashing jobs</a> <a href="https://www.businessinsider.in/careers/news/benching-firing-and-re-deploying-the-story-of-20000-employees-at-tech-majors/articleshow/71934414.cms">Benching, firing and re-deploying — the story of 20,000 employees at tech majors</a>

Cognizant to hire 20,000 ‘digitally ready’ freshers — with higher starting salaries of ₹4 lakh per annum

<ul><li>American multinational <keyword id="28721" type="COMPANY" weightage="20" keywordseo="Cognizant">Cognizant</keyword> is expected to lay-off some hundreds of working employees as a part of its structural rejig and growth measures. </li><li>According to an ET report, several fresh graduates hired by the company are still waiting to get their joining date. </li><li>IT firms like Infosys, TCS and HCL have also stepped up campus hirings to expand its entry-level workforce.</li></ul>American multinational Cognizant is expected to lay off hundreds of employees to cut costs, according to an <a href="https://economictimes.indiatimes.com/tech/ites/techies-are-highlighting-workplace-woes-through-memes-and-confession-pages/articleshow/70694556.cms">ET report</a>. The IT major is also trying to boost its revenue by making other changes like tightening travel budgets. It is increasing variable pay as a part of its structural rejig. “It is part of the appraisal process; it is getting stricter. If you were a marginal performer or have not been allocated (a project), then they would look at beginning a separation process,” ET reported citing sources. Cognizant CFO Karen McLoughlin said that the company will focus on higher margins. The report also said that offers made to fresh graduates have been put on hold as well. The company however denied this move. Cognizant has a long history of honouring all campus offers and there is no reason to believe that this year will be any different,” the company said in response. The company also introduced a ‘<a href="https://www.businessinsider.in/cognizant-begins-voluntary-separation-program-for-senior-staff-report/articleshow/69515809.cms">voluntary separation scheme</a>’ for senior executives. Under this, it offers 12-month salary and stock benefits depending on the employee’s tenure in the organisation. As of June, the technology major had 288,200 employees — and over half of them are in India. Fresher Hiring grows Meanwhile, IT firms like Infosys, TCS and HCL stepped up campus hiring to expand entry-level workforce. Infosys — second largest software exporter in India — is planning to hire nearly <a href="https://www.businessinsider.in/infosys-is-hiring-18000-freshers-from-campus-placements/articleshow/70223097.cms">18,000 freshers</a> during this financial year, according to reports. In the 2018-19, the IT giant hired around 8,000 employees — including 2,500 freshers. TCS extended nearly 30,000 offer letters to fresh graduates. It plans to further increase the count by adding <a href="https://www.businessinsider.in/tcs-plans-to-hire-18000-freshers-in-next-3-months/articleshow/70146189.cms">18,000 more</a> over the next three years. <keyword id="30331" type="COMPANY" weightage="20" keywordseo="HCL-Technologies">HCL Technologies</keyword> recently launched its <a href="https://www.businessinsider.in/hcl-technologies-is-hiring-10000-freshers-including-class-12th-passouts/articleshow/69971601.cms">work-integrated programme</a> focussed to create a deployment-ready talent pool. With this, the company plans to hire 10,000 freshers in 2019-20 — including high-school passouts. See also: <a href="https://www.businessinsider.in/infosys-is-hiring-18000-freshers-from-campus-placements/articleshow/70223097.cms">After TCS, Infosys on a hiring spree — plans to add 18,000 freshers via campus placements</a> <a href="https://www.businessinsider.in/tcs-has-36-women-employees-in-the-workforce/articleshow/70190643.cms">TCS is running on women power, with over 150,000 permanent employees</a> <a href="https://www.businessinsider.in/tcs-plans-to-hire-18000-freshers-in-next-3-months/articleshow/70146189.cms">TCS to add 18,000 freshers in the next three months</a>

Cognizant may layoff hundreds of employees sitting on the bench

<ul><li>Technology majors Cognizant and Capgemini are hiring as many as 35,000 campus freshers this year. </li><li>Capgemini said it will hire 15,000 students from Indian universities, who will join the company next year at an average salary of ₹3.8 lakh. </li><li>Cognizant is looking to hire over 20,000 ‘digitally-skilled’ graduates in 2020 — increasing the average compensation for campus freshers to ₹400,000 per annum. </li><li>The two multinationals are also reskilling their employees to grow their digital businesses.</li></ul>After massive structural rejig with layoffs and reskilling initiatives last year, two technology majors with heavy presence in India — Cognizant and Capgemini — are hiring as many as 35,000 campus freshers this year. French multinational Capgemini is planning to hire as many as 15,000 students from Indian universities in 2020-21. These graduates will join the company next year at an average salary of ₹3.8 lakh per annum. However, for those hired from top tier IITs and NITs, salaries can go as high as ₹6.5 lakh. They will also account for nearly 10% of the total hires. “The net headcount in India has continued to grow well with strong hiring year-on-year and our perspectives for 2020 look good too. Globally, we also continue to increase our overall headcount by 5.1% year on year,” Capgemini said last year when it laid off over 500 employees. Meanwhile, Cognizant too is back to sprucing up its employee base. It is looking to hire over 20,000 digitally-skilled graduates in 2020. It also increased the average compensation for campus freshers to ₹4 lakh per annum. This is an 18% surge from last year’s campus salaries. “We continue to be a net hirer of engineering, science, management and other graduates as well as experienced professionals. With more and more students in campuses becoming digitally ready, we have announced a 30% increase in our hiring of engineering and science students for 2020,” the company spokesperson said. Focus remains on <keyword id="4576053" type="PERSON" weightage="20" keywordseo="Reskilling-employees">reskilling employees</keyword> These multinationals which have laid off employees last year and are back to hiring - indicates a growing trend to employ those with digital skills. Digital technologies, including cloud services comprise over 50% of Capgemini’s growth. While for Cognizant, the digital revenue has been growing by more than 20% year-on-year. Young engineers could be partly ready to take on digital roles as they learn new age skills for cloud, IoT. Others are also easier to train, helping companies expand their digital employee base. These IT majors are are also actively reskilling their employees. “We have 1,800 certified consultants, while our nearest competitor in India is 500. The focus is on continued skilling. On average, we are reskilling 60,000-plus employees,” Ashwin Yardi, CEO of Capgemini India <a href="https://timesofindia.indiatimes.com/business/india-business/capgemini-india-to-hire-over-12000-freshers-this-year/articleshow/74128213.cms">told</a> the Times of India. The company claims to have reskilled over 51,000 people in 2019 so far — on emerging technologies like cloud, devOps, and big data. Cognizant is also <a href="https://www.businessinsider.in/careers/news/cognizant-and-capgemini-are-taking-steps-to-reskill-over-60000-employees/articleshow/72154055.cms">doing the same</a>. We have doubled our investment in Cognizant Academy in 2020. To accelerate our digital momentum, we believe we need to hire or reskill approximately 25,000 resources in 2020, and we have started to operationalise this," Brian Humphries, CEO of Cognizant said. 
	<div type="twitter" handle="Capgemini" handlename="Capgemini" image="http://pbs.twimg.com/profile_images/1211971586204393473/peuCq7w7_normal.jpg" favoritecount="5" retweetcount="2" status="FY 2019 highlight: Digital and Cloud now account for over 50% of the Group’s activities, with growth exceeding 20%… https://t.co/wr1DwghUhw" createdat="1581669011000" id="1228234970033901573"></div>



 See also: <a href="https://www.businessinsider.in/careers/news/cognizant-to-hire-20000-digitally-ready-freshers-with-higher-starting-salaries-of-4-lakh-per-annum/articleshow/74075931.cms">Cognizant to hire 20,000 ‘digitally ready’ freshers — with higher starting salaries of ₹4 lakh per annum</a> <a href="https://www.businessinsider.in/careers/news/cognizant-and-capgemini-are-taking-steps-to-reskill-over-60000-employees/articleshow/72154055.cms">Learn or leave — tech majors are either reskilling employees or slashing jobs</a> <a href="https://www.businessinsider.in/careers/news/benching-firing-and-re-deploying-the-story-of-20000-employees-at-tech-majors/articleshow/71934414.cms">Benching, firing and re-deploying — the story of 20,000 employees at tech majors</a>

Cognizant and Capgemini are looking to hire 35,000 fresh engineers

<ul><li><keyword id="28721" type="CITY" weightage="20" keywordseo="Cognizant">Cognizant</keyword> is planning to reskill and redeploy roughly 5,000 senior level employees as a part of its structural rejig. </li><li><keyword id="10863" type="COMPANY" weightage="20" keywordseo="CapGemini">Capgemini</keyword> has reskilled over 51,000 people in 2019 so far in technologies like cloud, devOps, and big data. </li><li>Technology majors believe that they can improve their margins if their workforce is well-versed emerging technologies.</li></ul>Amidst the prevailing economic downturn, job losses and reassignments have become common. But a few companies are also taking up large-scale projects to impart skills to their employees. Technology majors believe that they can improve their margins if their workforce is well-versed emerging technologies. With technologies like AI and <keyword id="294572" type="TECHNOLOGY" weightage="20" keywordseo="machine-learning">machine learning</keyword> taking center stage, most of these companies are having to change the ‘job roles’ of their employees too. To facilitate this, two multinationals with heavy presence in India — Capgemini and Cognizant — are taking steps to re-skill over 60,000 employees. Last month, Cognizant said that is planning to reskill and redeploy its senior level employees as a part of its structural rejig. “The gross reduction is expected to lead to a net reduction of approximately 5,000 to 7,000 roles as the company aims to reskill and redeploy approximately 5,000 of the total associates impacted,” <a href="https://www.businessinsider.in/careers/news/benching-firing-and-re-deploying-the-story-of-20000-employees-at-tech-majors/articleshow/71934414.cms">said </a>Karen McLoughlin, CFO, Cognizant in its latest earnings call. And it is not just engineers that they want to be well-versed in technologies. It is also hiring 500 sales professionals skilled in digital technologies. As of June, the technology major had 288,200 employees — and over half of them are in India. Capgemini too said that it reskilled over 51,000 of its employees in 2019 so far. They are skilled in emerging technologies like cloud, devOps, and big data. Last year, it upskilled over 60,000 employees through its ‘<keyword id="24019" type="PERSON" weightage="20" keywordseo="automation">Automation</keyword> Drive Academy.’ The initiative helps the company identify opportunities in the automation space. The cloud of this silver lining is that neither of these tech majors are reskilling ‘all’ its employees. As companies are restructuring, these upskilling projects run parallel to job losses. Capgemini has already started laying off 500 people in India to improve productivity. In Cognizant too, as many as 7,000 mid and senior level jobs are on the line — accounting for 2% of its workforce. See also: <a href="https://www.businessinsider.in/careers/news/benching-firing-and-re-deploying-the-story-of-20000-employees-at-tech-majors/articleshow/71934414.cms">Benching, firing and re-deploying — the story of 20,000 employees at tech majors</a> <a href="https://www.businessinsider.in/careers/news/over-half-of-indian-students-will-not-have-skills-for-21st-century-jobs-warns-unicef/articleshow/71938857.cms">Over half of Indian students will not have skills for 21st century jobs, warns UNICEF</a> <a href="https://www.businessinsider.in/careers/news/7000-cognizant-jobs-are-on-the-line-as-the-tech-major-rejigs-workforce/articleshow/71830898.cms">7,000 Cognizant jobs are on the line as the tech major rejigs workforce</a>

Learn or leave — tech majors are either reskilling employees or slashing jobs

<ul><li>Technology giants — <keyword id="10863" type="COMPANY" weightage="20" keywordseo="CapGemini">Capgemini</keyword>, <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> and <keyword id="28721" type="COMPANY" weightage="20" keywordseo="Cognizant">Cognizant</keyword> — are aggressively cutting jobs across levels. </li><li>French technology multinational Capgemini has axed almost 500 jobs in India to increase productivity. </li><li>Meanwhile, Infosys is expected to layoff almost 10% of its workforce — accounting for 12,000 jobs. </li><li>These layoffs comes on the back of ongoing job cuts in Cognizant. According to a recent announcement, as many as 7,000 mid and senior level jobs are on the line — accounting for 2% of its workforce.</li></ul>Technology giants — Capgemini, Infosys and Cognizant — are aggressively cutting jobs across levels as a cost cutting measure. French technology multinational Capgemini will layoff almost 500 jobs in India to improve productivity. And, the process has started. Over half of this company's workforce is based in India — with over 100,000 employees. “As an IT services company, our people are at the heart of our business and we are permanently rolling out widespread reskilling programs to build new capabilities that meet clients’ evolving digital transformation needs. The net headcount in India has continued to grow well with strong hiring year-on-year and our perspectives for 2020 look good too. Globally we also continue to increase our overall headcount was up 5.1% year on year,” the company said. There are departures, reskilling, reassignments and arrivals across the industry. The company claims to have reskilled over 51,000 people in 2019 so far. It skilled employees on emerging technologies — cloud, devOps, and big data. On the other hand, Indian IT major <a href="https://www.indiatoday.in/technology/news/story/infosys-cognizant-lay-off-mid-senior-level-job-cut-1615907-2019-11-05">Infosys</a> is expected to layoff almost 10% of its workforce — accounting for 12,000 jobs. The move will affect the senior and mid level employees. The company employs over 900 senior executives and up to 5% of them may be asked to resign from their posts, India Today reported. But the company has denied it. "As a high-performance organisation, involuntary attrition is integral to normal course of business and this should not be interpreted as any mass trimming across any level," Infosys <a href="https://www.moneycontrol.com/news/business/infosys-lays-off-thousands-of-mid-senior-level-employees-report-4606991.html">told</a> TOI. These layoffs comes on the back of ongoing <a href="https://www.businessinsider.in/careers/news/7000-cognizant-jobs-are-on-the-line-as-the-tech-major-rejigs-workforce/articleshow/71830898.cms">job cuts in Cognizant</a>. According to a recent announcement, as many as 7,000 mid and senior level jobs are on the line — accounting for 2% of its workforce. Nearly 5,000 employees will be redeployed into other job roles. This might also affect its workforce in India. “To improve cost structure to partially fund these investments and advance Cognizant’s growth agenda, it has made the decision to remove approximately 10,000-12,000 mid-to-senior level associates worldwide from their current roles in coming quarters,” Karen McLoughlin, CFO, Cognizant said. See also: <a href="https://www.businessinsider.in/careers/news/7000-cognizant-jobs-are-on-the-line-as-the-tech-major-rejigs-workforce/articleshow/71830898.cms">7,000 Cognizant jobs are on the line as the tech major rejigs workforce</a> <a href="https://www.businessinsider.in/policy/news/h-1b-visa-rejection-rates-rise-sharply-30-of-cognizant-capgemini-accenture-wipro-and-infosys-applications-denied/articleshow/71821596.cms">H-1B visa rejection rates rise sharply — 30% of Cognizant, Capgemini, Accenture, Wipro and Infosys applications denied</a> <a href="https://www.businessinsider.in/thelife/personalities/news/salil-parekh-infosys-ceo-profile/articleshow/71699382.cms">The Infosys clean-up under Salil Parekh seems to have come a full circle within 2 years</a>

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7,000 Cognizant jobs are on the line as the tech major rejigs workforce

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Cognizant to hire 20,000 ‘digitally ready’ freshers — with higher starting salaries of ₹4 lakh per annum

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Cognizant may layoff hundreds of employees sitting on the bench

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Cognizant and Capgemini are looking to hire 35,000 fresh engineers

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Learn or leave — tech majors are either reskilling employees or slashing jobs

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Benching, firing and re-deploying — the story of 20,000 employees at tech majors

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