Mumbai: The US IT giant Cognizant can sack hundreds of employees to lower down its expanse. The company had also fired a number of mid-level executives in May in order to reduce the cost. The company is also thinking about many more options to cut its spending.
According to an English Daily report, the company's new CEO Brian Humphries is starting a restructuring process to bring Cognizant into a profit situation that aims to push growth and reduce costs. The company can exclude employees who have more than eight years of experience. The English Daily had recently reported that the company was considering increasing the variable pay component, which would help the company reduce its costs under the restructuring process.
An employee of Cognizant also said that the company was estimating the number of job cuts and the company was also thinking about the profit on a quarterly basis. The company has already stopped non-essential travel and has also taken other steps to limit its expenses. In addition, the company has extended the time between giving offer letters to new employees and allotting joining dates.
Also Read:
PMO to hold meeting with Finance Ministry officials today
PM Modi meets with Finance Minister Sitharaman to discuss economy
Know Gold prices in the market!
Wealth of Mukesh Ambani reaches this much in just two days, figure will shock you