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Cognizant headcount reduced by 10,500 employees in Q2
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IANS | 31 Jul, 2020
As global software major Cognizant implements a programme to improve
cost structure amid Covid-19 and optimises its team, the headcount of
the company reduced by 10,500 in the second quarter of this year as
compared to the previous quarter.
As of June 30, the total headcount of the company stood at 2,81,200, from 2,91,700 employees on March 31.
The
voluntary attrition in the company declined to 10.5 per cent in Q2 of
this year, revealed Cognizant CEO Brian Humphries during an earnings
call with investors on Wednesday.
Humphries said that the company
continues to deploy "much more of a performance orientation in the
company, which means that we are now removing the underperformers on an
annual basis."
Cognizant also announced that Karen McLoughlin has
decided to retire from the company after more than eight years as Chief
Financial Officer and a successful career in the company spanning
almost 17 years.
Jan Siegmund will serve as the new CFO of the company, effective September 1.
The
Cognizant CEO also said that the company was looking to hire a new
Managing Director for India who will represent its 200,000 employees in
the country.
In the second quarter of 2020, Cognizant reported revenue of $4 billion, down 3.4 per cent as compared to the year ago period.
The
company said revenue across its business segments was negatively
impacted by the Covid-19 pandemic and a ransomware attack, primarily in
the month of April.
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