He also said the firm plans to hire or re-skill around 25,000 employees for cashing in the opportunities arising in the digital technology segment without divulging specific numbers.
is pursuing its ‘fit for growth’ plan under which it is taking various cost-optimisation measures through which the company hopes to save around $150-$200 million by the end of 2020. The IT services firm is also rationalising its employee pyramid by hiring more fresh graduates. It had earlier said the company would remove 10,000-12,000 mid- to senior-level employees and redeploy about 5,000 of those impacted.
On Cognizant’s decision to exit the content moderation business, Frank said though it was a difficult decision, it was a step in the right direction. “While there are a handful of clients in the content (moderation) business, every firm is looking for digital solutions. So, the opportunity is quite big in digital (space).”
The IT firm last year decided to exit the content moderation business, which has an overall revenue impact of $240-270 million per annum. Cognizant, which beat street estimates with its fourth quarter performance, has projected that its revenues will grow by 2-4 per cent in the current year. Though this is the lowest growth projection among its peers, investors believe that the firm’s performance may improve.