Bengaluru, Nov. 8 -- Cognizant Technology Solutions will eliminate as many as 7,000 mid-senior level jobs globally and reskill about 5,000 employees as part of a plan to save costs and simplify the company's organizational structure.
"This will result in an annual cost savings of $500-550 million, which will be reinvested in growth," chief executive officer (CEO) Brian Humphries said in a telephonic interview on Thursday, 31 October. "The gross reduction is expected to lead to a net reduction of approximately 5,000 to 7,000 roles (about 2% of the company's total workforce), as we are looking to reskill and redeploy approximately 5,000 of the total associates impacted," he said.
The restructuring should also be looked as a way to create mo...