BENGALURU: Cognizant’s job cuts will be focused on the middle levels, as the US-listed IT services company tries to cut costs and restore growth. Analysts lay the blame for its problems at the feet of activist hedge fund Elliott Management.ET had reported that Cognizant is considering job cuts, the size of which is yet to be determined. The Teaneck, New Jersey-headquartered firm said its headcount growth had outstripped revenue growth in the past two quarters. Middle-level positions are typically those that are held by people with over seven years of experience.In addition to lowering costs, Humphries said he was going to focus on investing so Cognizant could return to stronger growth rates. But analysts said the cuts that were made as a result of what Elliott Management wanted hurt the company’s competitiveness and crippled its growth.

Source: Economic Times May 06, 2019 01:30 UTC