[1]Bengaluru: Cognizant Technology Solutions, the company whose blazing growth has been the cause of much grief for Infosys and Wipro over the last several quarters, may be about to deliver some bad news of its own.
It is set to sack at least 2,000 people, according to sources inside the company. At least two analysts that Deccan Chronicle spoke to said, however, that the figure could be much higher than that. While a Bengaluru-based analyst said the company would send home some 8,000 people, a Pune-based analyst refused to put a figure on it, but said, “there's going to be a bloodbath at the company”.
“Around 2,000 employees will have to quit as they are continuing to underperform despite being put through a three-month performance improvement plan,” a Cognizant source revealed on condition of anonymity. Another insider said, “2,000 is a fair estimate.”
The Pune-based analyst said, however, that Cognizant may be forced to send the pink slip to several thousand more because “they had planned for a 20 per cent growth rate and hired accordingly, but the actual growth rate is not that high”.
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