Cognizant to trim senior level executives to make space for juniors to grow

Nasdaq-listed IT services firm Cognizant is likely to reduce its headcount further, especially at the top end of the employee pyramid in coming quarters after reporting the highest level of attrition among the software biggies for the second quarter ended June.

In an interview to a business newspaper, Cognizant's president Raj Mehta said that around $35 million would be provided during the rest of this calendar year towards severance costs.

The IT major on Thursday reported a decline in its net profit by 12 per cent sequentially to $456 million in the second quarter ended June, 2018 owing to forex