The American multinational corporation, Cognizant Technology Solutions is likely to lay off 6,000-10,000 employees as part of its annual appraisal exercise that ends in March, reports suggest.
Cognizant is known to hire about 2,60,000 employees worldwide annually. India’s Cognizant Technology Solutions accounts for 75 per cent workforce globally.
While the decision is being seen as an impact of Cognizant's desire to move towards automation, according to the company, it is part of their annual appraisal cycle which puts underperformers under the radar.
"The company conducts regular performance reviews to ensure it has the right employee skill sets necessary to meet client needs and achieve its business goals,” said the company's spokesperson. “This process results in changes, including some employees transitioning out of the company. Any actions, as a result of this process, are performance-based and generally consistent with those we've made in previous years. In any given year, the numbers may bounce a percentage here and there, but resizing our employee base is a part of our standard practice.”