Cognizant begins to rationalise top deck

BENGALURU: Nasdaq-listed Cognizant initiated rationalisation of its top deck with a ‘voluntary separation’ programme at the director level and above in June with a generous severance payout of up to a year’s salary and other stock benefits based on their tenures in the company.

The voluntary separation programme could be for 300-400 executives holding the title of a director, including assistant vice-presidents and VPs, sources said. The company is learnt to have identified executives who are going to be part of the separation programme in India, the US and other geographies, sources said. These senior executives would be counselled and offered outplacement servicesNSE 0.84 %.