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

View in App
BCCL
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.
Cognizant fired about 200 senior executives, two months after the company said it would axe some top level jobs to allow room for junior employees to grow.

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.
Download
The Economic Times Business News App
for Live Elections News & Results, Latest News in Business, Share Market & More.
Download
The Economic Times Business News App
for Live Elections News & Results, Latest News in Business, Share Market & More.
READ MORE
ADVERTISEMENT

READ MORE:

Sentiment Tracker

    Select any three only
      Thank you for your response

      LOGIN & CLAIM

      50 TIMESPOINTS

      ET Business Listings
      Generate Enquiries for your Business by Listing on Economictimes.com

      More from our Partners

      Loading next story
      Text Size:AAA
      Success
      This article has been saved

      *

      +