The dark horse of IT services, Teaneck, New Jersey, U.S. headquartered Cognizant has faced a dip in its livewire since the Indian unit of the same saw a headcount reduction of 4,500 employees. As of 2023 end, the headcount for India stood at 254000.
Cognizant Sees Headcount Decline
The same number reported globally was 347,700 employees as of 2023 end. Notably, this was 7,600 less than last year end’s 355,300.
As compared to the Q3 2023, the total headcount of Cognizant increased by 1,100 to reach 347,700. Notably, it is still 7,600 less than the number in Q4 2022.
Strikingly, the voluntary attrition in Q4FY23 stood at 13.8%, as compared to 25.6% for the FY2022.
Moving to the company’s other focus, the company has invested in generative AI, cloud, data modernization, digital engineering, and IoT.
Ravi Kumar S, Chief Executive Officer said during the Q4FY23 results that “I’m grateful to our nearly 350,000 employees for their tremendous year-long work enhancing our strength as industry experts, collaborative partners, and passionate innovators for our clients.”
Speaking of new technologies, he added that “To keep advancing our ability to design and deliver solutions, we continue to invest in generative AI, cloud, data modernization, digital engineering, and IoT”.
Similar to India, but in lesser scale, the North American headcount too saw a decline. As compared to 2022’s 41,100, this year saw the headcount reach 40,500.
With a headcount of 16300 for Continental Europe and 8500 for United Kingdom, both have seen a decline.
Peer IT Giants’ Headcount in Q3FY24
No man is an island and neither is a corporate since the ecosystem affects all.
On the same lines, there has been a reduction of 4,354 employees as compared to previous quarter in Tech Mahindra, taking the headcount to 146,250 for the 3rd quarter end. Below are list of some IT giants and their headcount across quarter time span:
| Company | Q1FY24 | Q2FY24 | Q3FY24 |
| TCS | 6,15,318 | 6,08,985 | 6,03,305 |
| Infosys | 3,36,294 | 3,28,764 | 3,22,663 |
| Wipro | 2,49,758 | 2,44,707 | 2,40,234 |
| HCL Tech | 2,23,438 | 2,21,139 | 2,24,756 |
