Cognizant Techology Solutions

Cognizant had the highest number of H-1B visas of any US employer from 2013 to 2019, according to Citizenship and Immigration Services

Cognizant has revised its full-year revenue growth guidance for FY24 from $19.3 billion to $19.5 billion, representing a growth of -0.5% to 1%

Nasdaq-listed information technology company employs some 250,000 people in India

In India, nearly 40 per cent of Cognizant's associates are women, compared to the IT industry gender diversity average of 36 per cent

The company has already vacated 1.15 million square feet of office space in Chennai, including 500,000 square feet in the DLF Cybercity SEZ and 650,000 square feet in the Ramanujan IT SEZ

Manoj Mehta and Jane Livesey will lead two units and report directly to CEO Ravi Kumar S

Kumar cited the example of a GenAI-enabled conversational virtual assistant (VA) that Cognizant has introduced to help clients reimagine experiences beyond chatbots

The planned investment will cover platforms, personnel, partnerships, IT infrastructure, and mergers and acquisitions

Platform has a library of reusable generative AI models and agents, development tooling, and control components including API and access management, versioning, and auditing

Eligible executives at the levels of directors and above have already received merit increases in January

Slow growth rate and execution challenges impact Cognizant Q4 performance

Nasdaq listed Cognizant Technology Solutions (Cognizant) closed the third quarter with a 2.4 per cent revenue growth.

Revenue was at $4.9 billion, up 9.5 per cent in constant currency on a year-on-year (YoY) basis

For the fourth quarter of 2020, Cognizant''s revenue declined 2.3 per cent to USD 4.18 billion from USD 4.28 billion in the year-ago period

The highest growth in revenue during the quarter came from healthcare vertical which grew 4.8 per cent to $1,231 million

The withdrawal comes on the back of falling client demand, expecially in the travel and hospitality space

India CMD Ramkumar Ramamoorthy clarified Cognizant would continue hiring, and that the earlier job-cut announcement was but a small one, considering the company had around 290,000 employees globally

Cognizant announced measures including reduction in job count in the coming quarters apart from exiting content moderation business

Narayanan, who had hired a young Ramamoorthy, says he has reinvented himself several times over the past 20 years

Experts say this is a step in the right direction for the firm to regain its competitive edge