Cognizant lays off 200 senior employees

As part of its workforce management strategy, Cognizant has let go of around 200 senior employees that are director-level and above.

According to a report by the Times of India, the move is expected to cost the New Jersey-based company around $35 million in severance payouts, but the company expects to use this clearing to tailor its workforce to the increasingly digital landscape.

In the report, the company said: “As part of our ongoing workforce management strategy, we ensure we have the right employee skill sets necessary to meet client needs and achieve our business goals. This process has resulted in changes, including some employees transitioning out of the company. We continue to enhance our capabilities and hire for roles across all our practice areas in the company. Details of severance or any other conditions of employment are confidential.”

Talking to TOI, some employees affected by the layoffs said that they were asked to sign a mutual release agreement, in which they acknowledged that they would not press legal charges against Cognizant.