Cognizant Technology Solutions Corp announced on Wednesday that it will cut as many as 7,000 mid-senior jobs in the coming few quarters as a part of their restructuring process.
This cut will be in additional 6000 employees, who will be impacted after the information technology services provider exists content moderation business for clients such as Facebook.
In a post-earnings call, the New Jersey-headquartered company said it was going to let go over 10,000-12,000 mid-to-senior current employees. The exercise was being done to optimize growth and to invest in reskilling and growth.
“The gross net reduction of employees will be 5,000 to 7,000 roles,” said company executives on Wednesday.
While working as a Content moderation business firm the company faced a lot of scrutiny for the working environment of the moderators and the impact of the work on their mental health.
“Exiting this area will impact an additional approximately 6,000 roles worldwide, though the company intends to work with its partners to explore ways to transition the roles to alternative vendors, thereby reducing the impact to associates,” company executives said.
The company is expected to be overcome the losses in the next two years. But the exit is going to impact the company’s communication, media and tech segment.
(With input from agencies)