As per report IT major Cognizant has reportedly laid off 200 senior employees with a severance payout of 3-4 months. Meanwhile these employees are mainly from the director level and above. Reportedly this exercise took place through July and was completed in August. Furthermore as per the report, the IT major also offered a voluntary separation scheme to 400 senior employees last year and the program this year was not voluntary.
Furthermore employees who were laid off were asked to sign a release agreement, which stated that they acknowledge that no legal action will be taken against the company or its directors or its officers. Meanwhile in fact, the layoffs were reported on August 3 that Cognizant said it would look at cutting senior level jobs, because of which the company would incur as much as $35 million in severance costs.
Moreover at the time, Raj Mehta, president at Cognizant, told ET in an
interview that this layoff, which unline last year isn’t voluntary, is targeted
towards senior executives, which would allow its associates to grow. Hence with
digitalization and emerging technologies coming into play, the IT industry has
been seeing layoffs over the past year or two and there were media reports last
year that a staggering 56,000 techies could be fired.
BJP Cheap Trick to Defeat Rahul Gandhi in Wayanad Congress President Rahul Gandhi’s decision to contest Lok Sabha polls from Wayanad in Kerala drew the attention of the country to the constituency. Rahul is already contesting from his Amethi constituency against Smriti Irani. But then, Rahul Gandhi is up against four other Gandhis who contested for the same seat.
- AP IAS Association Sensing Chandrababu Coming to Power
- Bengaluru, the cheapest Asian City!
- 50:50 chances of Priyanka Gandhi contesting from Varanasi: Sources
- Janasena Damaged TDP in 35 Seats?
- After 14 years this Coimbatore Govt School gets power supply
- Congres Vijender Singh flexes biceps after being asked on BJPs dhai kilo ka haath
- KCR Does Damage Control in Inter Board Fiasco
- JKLF chief Yasin Malik sent to judicial custody till May 24, Mehbooba demands release
- Chandrababu To Unleash Operation Akarsha If Short of Majority
- Never Ever use FREE WIFI anywhere, It's pretty dangerous
- Actor Dileep asks for Stay in Actress Assault case
- Stampede kills 7 people in TN!
- Denmark's Richest Billionaire lost his Children during Srilanka Blasts
- Husband kills wife and sends photo in Whatsapp!
- #TikTok BAN REMOVED...