Cognizant to lay off around 3,500 employees as part of rejig programme

Cognizant on Thursday said it is going to terminate around 3,500 employees or 1% of its total workforce and also rationalise its office spaces in a bid to cut costs in what is being seen as a challenging time for the IT services sector.

Layoffs at Cognizant follow that of Accenture, which in April announced that 19,000 employees would be let go globally.