Vishal Dugar joined INT. from Cognizant where he was the Global Head of Business Development and oversaw the financial services vertical
Infosys coming close to Cognizant’s level of growth reflects the latter’s troubles as it faced execution challenges and underperformed as compared to its peers, despite the pandemic leading to significantly increased demand.
IT companies should think twice before scaling down their employee base as rebuilding capacity can be difficult
Cognizant has revised its full-year guidance downward, citing headwinds from currency, lower North America billable headcount and softer-than-expected bookings growth
Moshe Katri’s comments come months after the leading IT analyst called out the Cognizant board for not exercising its fiduciary duty
Sources suggested that Ravi Kumar's appointment as President could be a precursor to becoming Cognizant CEO in the future.
In an interview with Moneycontrol, leading IT analyst Moshe Katri drew parallels between Cognizant and its Indian rivals such as Infosys and Wipro, where founders tweaked leadership till they found the right candidate for the top job.
Sharing his reasons for choosing Microsoft, Rakheja said that he heard the work culture there is amazing and the work they do is impactful.
Cognizant has done a creditable job on profit margins but has also warned about potential slowdown in project awards
Growth across the company’s key verticals was also impacted barring communications, media and technology
Restructuring results from evolving nature of digital transformation deals, analysts said.
Nambiar, however, will continue to be a part of the company as the Executive Vice President, Chairman, and Managing Director of Cognizant India, the IT services major informed in an SEC filing in the US on Wednesday.
Infosys had said earlier that Parekh's proposed total target remuneration vis-à-vis the remuneration most recently paid to CEOs of peers would be around the median.
"An egoless person, he hired his own boss and started what turned out to be a big centre for Cognizant in Kolkata," former Cognizant vice-chairman and CEO Lakshmi Narayanan said on Debashis Chatterjee.
In comparison, for the March quarter, Tata Consultancy Services Ltd’s (TCS) dollar revenue grew 14.3% in constant currency from a year earlier to $6.7 billion, while that of Infosys Ltd grew 20.6% to $4.3 billion.
D'Souza, the former CEO of Nasdaq-listed Cognizant said the tech services boom is here to stay and that the winners of the future are going to be the ones that can build amazing cultures and not necessarily the ones who can create demand.
Recognize has raised approximately $1.3 billion for its inaugural fund and has closed three platform investments with over 4,000 employees.
This comes at a time when the company's involuntary attrition rate was 33 percent for the September 2021 quarter, one of the highest in the industry. Pandey’s appointment also comes after Suresh Bethavandu, global head of talent acquisition, resigned from Cognizant after a 25-year stint in October.
Bethavandu will be responsible for all key dimensions of the talent lifecycle including recruitment, performance management, and compensation
The guidance is in constant currency CAGR. Of the total growth in the period, 6-9 percent organic constant currency CAGR and 2 percent would come from inorganic contribution. Cognizant expects to close the year with $18.5 billion.
This is the second time the CEO has commented having to let go of some business due to supply crunch. It comes at the back of rising voluntary attrition of 33 percent (37 percent otherwise), highest among its India peers, at a time when the demand momentum is strong. The company will hire 45,000 freshers in India, who will be on-boarded in FY22.
The latest exodus, coming in the wake of senior Cognizant hands leaving to head other IT companies, large PE firms and startups over the last two years, underscores the company’s struggle to retain top talent
United States District Judge for the District of New Jersey, Peter Sheridan, said last week that Cognizant has an obligation to pay the appropriate fee for the visa privileges
On August 11, the Lockbit hacker group claimed that they have attacked Accenture and said they intend to leak the data.
These exits are likely to hurt Cognizant as they come at a time when the company is seeing record attrition and is looking at hiring 1 lakh experienced professionals.