Cognizant fires 200 senior executives as it looks to ‘clean out’ pyramid
In August, Cognizant President Raj Mehta had told ET that senior jobs were on the chopping block
In August, Cognizant President Raj Mehta had told ET that senior jobs were on the chopping block. “This one is really targeted towards the senior end of the pyramid. It is not voluntary, this is more involuntary. We are trying to clean out the higher end of the pyramid and leave room for associates to grow,” Raj Mehta, President at Cognizant, had told ET in an interview. A Cognizant spokesperson had told ET then that 200 jobs were on the chopping block.
The Teaneck, New Jersey-headquartered company’s attrition was over 22% in the second quarter, a rate the company attributed to its stricter performance management moves and increasing global demand for tech talent. Cognizant follows the January to December calender for its financial year. Cognizant had already slashed headcount by as much as 6,0000 in 2017 and had previously offered nearly 400 senior executives a voluntary retirement scheme
The company has also split its process for raises and promotions. Junior employees are expected to receive their raises and promotions in the third quarter, while senior employees would receive the raises and promotions in the fourth quarter.