Reportedly after cognizant announced on thursday that it would be laying off around 7000 employees globally, Chennai-based Union of IT and ITES employees (UNITE) has opposed the move by the company, calling it a ‘motive for profit maximization ignoring the life of its employees and their family’. Meanwhile UNITE alleges that IT companies are not making any loss, and hence the move to retrench such a large number of employees is purely to maximize profits.
Earlier on thursday, cognizant said that as part of its cost reduction plan, it will be removing 10,000-12,000 mid-to-senior level associates globally from their current roles. Furthermore of this 5000 will be re-skilled and redeployed and nearly 7000 stand to lose their jobs over the coming quarters. UNITE expects the impact of the retrenchment to be severe in india as well and has called upon employees to unite and fight.
Moreover UNITE has also called for provision of health benefits for the 12,000 employees that stand to be re-skilled or laid off as part of Cognizant’s ‘2020 Fit for Growth Plan’. Bharanidharan said “All those who will be losing jobs may be married, with kids and families to feed. If they suddenly lose their jobs, or removed from their roles, they will undergo mental stress and agony. So we want the company to use funds from its 2020 Fit for Growth plan to offer some consultation and counseling services to those will be sacked or re-skilled”.
