IT firm Cognizant Technology Solutions (CTS) has let go of about 200 senior employees at the director level and above along with a severance payout of three-four months this year.
This move has been stated as the company’s plan to align its talent pool to the newer digital requirements and lay off those who have not adjusted to the current tech and bring in those with new skills.
“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,” the company said.
With this, the company expects to incur $35 million in severance payouts. It was last year that Cognizant offered a voluntary separation scheme to 400 senior employees, however, this year, it was not voluntary.