ET had reported that Cognizant is considering job cuts, the size of which is yet to be determined. The Teaneck, New Jersey-headquartered firm said its headcount growth had outstripped revenue growth in the past two quarters. CEO Brian Humphries, who took over in April, said the company would work towards lowering the cost of delivery through “pyramid actions”.
“What we are see in the issues at Cognizant is the result of the misguided commitments that the previous leadership team made to the street under the influence of Eliott, combined with secular troubles in Cognizant’s two key industry verticals health insurance and Banking,” Peter Bendor Samuel, CEO of IT consultancy Everest Research, said.
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