According to Cognizant, its 2023 estimates for revenue are projected to be lower. Cognizant will reduce costs by firing 3,500 workers and giving up millions of square feet of office space in order to address this.
3,500 employees of the tech business Cognizant will soon receive their pink slips, according to Moneycontrol. The IT giant’s CEO, Ravi Kumar S, announced plans to layoffs thousands of workers to cut costs.
The research also notes that the firm’s 14.6 percent margins are among the lowest in the sector.