The US-based company has around 254,000 employees, or about 70% of its total employee headcount, in India. Cognizant reported a reduction in its total headcount by 8,100 to 336,300 during the quarter ended June. The employee count was lower by 9,300 from a year ago. In its second quarter ended June, Cognizant posted a 22.2% year-on-year (YoY) and 3.6% sequential growth in net profit at $566 million. Its revenue came in at $4.85 billion, marginally lower by 0.7% on year.
The company has guided for Q3 revenue to be in the range of $4.89-4.96 billion, a minus 0.2% to +1.3% YoY or 0.0% and 1.5% YoY in constant currency terms.
The controversy deepened as Cognizant announced starting salaries of Rs 2.52 lakh per annum for freshers, a level that some said is two-decades law and goes back to starting salary of 2002. This decision has sparked outrage on social media and raised concerns about the company’s future talent acquisition strategy. Cognizant, in its job posting, said that the Rs 2.5-lakh package is for candidates graduating in the 2024 batch with any 3-year full-time degree programme who are eligible to apply.
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