Cognizant to lay off 3,500 non-billable corporate personnel

IT major Cognizant, on Thursday, said it will lay off 3,500 employees, or approximately 1 per cent of its workforce, as it sees revenues slowing down in 2023. The company will also reduce its real estate costs by eliminating 80,000 seats and 11 million square feet in large cities in India.

The affected employees will primarily be non-billable and corporate personnel, Cognizant informed in response to queries raised by DH. The company however did not share any details about which geographies the lay-offs will happen and from when.

This comes after tech giants including Amazon, Accenture, Microsoft, and Twitter have laid off employees on the back of inflationary pressures, global economic recession and bleak outlook.