Cognizant will cut as many as 7000 jobs in the next few quarters and exit its content moderation business, impacting another 6000 employees, as it begins a strategic restructuring to cut jobs.
In a post-earnings call, CEO Brian Humphries said as a part of organizational restructuring, the company had made the difficult decision to let go of more than 10,000 to 12,000 mid-to-senior level employees from their current roles. It was being done in part to optimize cost and also to invest in the reskilling and growth.
“The gross net reduction of employees will be 5,000 to 7,000 roles,” Humphries said, explaining that around 5,000 staff would be reskilled and deployed.
