The Indian Wire » Business » As IT sector looks for revival, Cognizant lays off thousands of employees on the bench
Business

As IT sector looks for revival, Cognizant lays off thousands of employees on the bench

Cognizant

Nasdaq-listed IT services firm Cognizant Technology Solutions Corp. has laid off thousands of employees on the bench who were not actively involved in any client projects.
In IT services companies, employees on the bench are considered “non-billable” resources as their cost is not invoiced to any client. However, typically firms sustain a small portion of bench employees so that they are prepared to perform projects quickly.

“The statements on high volume layoffs are coming from ‘Cognizant’ in the name of ‘adequately managing workforce ‘utilization. Thousands of employees all over India are going to be the sufferers of this. Several victimized employees approached KITU, and the Union has initiated a legal battle against the Cognizant management for this illegal action,” KITU said in a statement.

The spokesperson added, “While Cognizant does not talk on gossip and speculation in the marketplace, we would like to clarify that recent third-party accusations regarding a specific number of job actions are not accurate, not based on facts, and were not declared by Cognizant.”

Reach out to The Indian Wire!

Want to work with us? Looking to share some feedback or suggestion? Have a business opportunity to discuss?

You can reach out to us at [email protected] and we will get back in minutes.

Like us on Facebook!

Shop on Amazon

Advertisement