Cognizant shifts to asset-light model; to sell assets in Hyderabad, Chennai

Cognizant Technologies is set to sell its office assets in Hyderabad and Chennai, marking a strategic move to become asset-light and capitalise on non-core real estate, according to a report by The Economic Times (ET). The decision is part of the company’s broader cost-cutting restructuring plan aimed at saving $400 million over two years, which includes vacating 11 million square feet of office space.
The software services firm intends to divest its 10-acre campus in Gachibowli, Hyderabad, and a 14-acre campus in Siruseri, Chennai. This real estate portfolio reassessment follows Cognizant’s efforts to optimise its workspace globally, simplify business operations, and re-align the workforce of hybrid work. The company is achieving this by redistributing real estate and expanding to tier-2 cities.