{"id":1281352,"date":"2024-05-04T06:39:03","date_gmt":"2024-05-04T01:09:03","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1281352"},"modified":"2024-05-04T06:39:24","modified_gmt":"2024-05-04T01:09:24","slug":"7000-employees-left-cognizant-in-last-365-days-hiring-reduced","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/7000-employees-left-cognizant-in-last-365-days-hiring-reduced\/","title":{"rendered":"7000 Employees Left Cognizant In Last 365 Days: Hiring Reduced"},"content":{"rendered":"\n

It appears that the Information technology company Cognizant Technology Solutions’ is not much behind in following the trends of cutting headcount.<\/p>\n\n\n\n

\"7000<\/figure>\n\n\n\n

Huge Decline In Cognizant\u2019s Headcount in Q1<\/strong><\/p>\n\n\n\n

In a recent development<\/a>, Indian IT major, Cognizant Technology headcount has declined sequentially year-on-year (YoY) during the two quarters in January-March.<\/p>\n\n\n\n

There is this change which IT companies are following where they have stopped backfilling positions left vacant due to attrition in the recent past.<\/p>\n\n\n\n

This seems to be affected by weak demand and also the higher rates of utilization.<\/p>\n\n\n\n

As we know that Cognizant follows the calendar year, so its headcount has decreased by 3,300 sequentially and 7,100 YoY, ending with 344,400 employees in the first quarter of 2024. <\/p>\n\n\n\n

After declaration of the results, the chief executive officer Ravi Kumar S said, \u201cWe have some capacity to continue to take care of our short-term needs. And as growth comes back in a more and more robust way, we will start to improve headcount,\u201d in a media interaction.<\/p>\n\n\n\n

Increase In Utilization Rate<\/strong><\/p>\n\n\n\n

Its peers in India including Tata Consultancy Services, Infosys, HCL Technologies, Wipro, and Tech Mahindra all together lost 69,167 employees in FY24 concerning the uncertain environment for demands.<\/p>\n\n\n\n

In the case of other rivals such as Accenture, its headcount declined by 723 to 742,318 during the last reported quarter.<\/p>\n\n\n\n

It appears that a substantial portion of the workforce of Nasdaq-listed information technology companies operates out of India.<\/p>\n\n\n\n

So, their results matter as they serve as an indicator of the broader trends within the over 5 million-strong Indian IT sector.<\/p>\n\n\n\n

In the meantime, Cognizant\u2019s attrition rate reduced by 10 percentage points to 13.1 percent on a trailing 12-month basis. <\/p>\n\n\n\n

Contrary to this, there is an increase in its utilization rate  by 1 percentage point to 82 percent for the quarter ended March 31.<\/p>\n\n\n\n

According to Kumar, Cognizant would first increase its utilization rate by 1-2 percentage points and then start hiring. <\/p>\n\n\n\n

Besides this, Additionally, the Teaneck-based company’s  headcount has not fallen in comparison with some of its peers.<\/p>\n\n\n\n

So, the company\u2019s metric was net positive in the past two quarters.<\/p>\n","protected":false},"excerpt":{"rendered":"

It appears that the Information technology company Cognizant Technology Solutions’ is not much behind in following the trends of cutting headcount. Huge Decline In Cognizant\u2019s Headcount in Q1 In a recent development, Indian IT major, Cognizant Technology headcount has declined sequentially year-on-year (YoY) during the two quarters in January-March. There is this change which IT […]<\/p>\n","protected":false},"author":27,"featured_media":1281362,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[565,71],"class_list":["post-1281352","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-cognizant","tag-hiring"],"acf":[],"yoast_head":"\n7000 Employees Left Cognizant In Last 365 Days: Hiring Reduced - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/7000-employees-left-cognizant-in-last-365-days-hiring-reduced\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"7000 Employees Left Cognizant In Last 365 Days: Hiring Reduced - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"It appears that the Information technology company Cognizant Technology Solutions’ is not much behind in following the trends of cutting headcount. 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