Cognizant Employees Will Get 25% Bonus; Allocates Rs 760 Cr To Fight #Coronavirus Attachments area
Cognizant Technology Solutions has announced an additional payment of 25 percent of the base pay for April for employees up to the associate level in India and the Philippines, In the views of the COVID-19 pandemic.
On top of that, Cognizant Technology Solutions has announced an initial $10-million philanthropic commitment to support communities around the world in addressing the immediate and long-term impact of COVID-19.
What Is The Plan?
According to the reports, Cognizant and its US and India-based foundations will provide critical resources to strengthen public health systems, education and workforce institutions, and the economic outlook of communities worldwide.
Basically, they have planned these funds to support – global response efforts, including healthcare and humanitarian relief through the World Health Organization’s “COVID-19 Solidarity Response Fund” and GlobalGiving’s “Coronavirus Relief Fund”.
Additionally, they will support critical healthcare infrastructure, including resources for hospitals and frontline healthcare workers, and investments in equipment and diagnostic tools; and education and workforce efforts, including research to advance online learning models in light of school closures, and funding to support education, training, and reskilling programs for vulnerable populations impacted by COVID-19.
As per the press release issued by the software company, the Cognizant US Foundation will match all its associate contributions to GlobalGiving’s “Coronavirus Relief Fund” throughout April, as part of the $10-million commitment.
What Are The Future Plans For Cognizant?
Further, IT major, Cognizant Technology Solutions Corp plans to strengthen its digital business with a string of strategic acquisitions that would allow the IT major to enter new geographies beyond North America.
So far, North America is Cognizant’s largest market, which contributes more than 75% to the company’s total revenues.
In an interview, global head of delivery – Cognizant, Pradeep Shilige said, “We continue to enhance our capabilities in digital via targeted mergers and acquisitions. We are also focusing on digital revenue growth from the geographic dimension as we plan to penetrate deeper into European and Asian markets,”.
Mr. Shilige said, “Our goal is to double investments and capabilities in the chosen battleground areas that together represent end-to-end digital transformation for our clients,”.
Currently, there are four digital battlegrounds where Cognizant focuses are data, digital engineering, cloud, and internet of things (IoT).
Where, the company’s revenue from digital continues to grow over 20% year-on-year and represented approximately 38% of the total revenue for the quarter ended December.
Cognizant has acquired five companies since January 2019, all of which have been in the digital space and mostly outside of North America.
Further, it acquired two Ireland-based firms during March-June–a financial software company Meritsoft to expand its software-as-a-service (SaaS) offerings and Zenith Technologies to strengthen its IoT capabilities and gain life sciences domain expertise.
Also, it acquired London-based Contino to augment its digital engineering capabilities and expand its presence across the UK, US, and Australia through existing customers, in October.