According to a Mint report, Cognizant Technology Solutions Corp has deferred joining dates of all campus offers and also planning to freeze most of its lateral hirings except in sales roles.
However, the company has said that it will honour all outstanding accepted offers made to students across India to the latter half of the year July-September.
Brian Humphries, CEO, Cognizant said, “We remain committed to growth and plan to honour the more than 20,000 campus offers we have made. The timing of our trainees’ start date in India will be deferred to Q3 (July-September). This will continue to be dependent on lockdowns and school schedules across India,”
“We will continue to move forward with our sales hiring plan and other key positions and honour all outstanding accepted offers,” Humphries said.
“The size and timing of any changes to our workforce will unfold as the demand environment becomes clearer.” He added.
On Monday, the FICCI has expressed concerns about large-scale job losses due to the economic distress caused due to the coronavirus pandemic and the resultant lockdown, and urged the government to roll out a stimulus package of Rs 9-10 lakh crore (4 to 5 percent of GDP).
FICCI president Sangita Reddy wrote in a letter to Finance Minister Nirmala Sitharaman that if we do not help industries, we will have large-scale job losses which will contract demand significantly and will lead to further pressure on the utilization of businesses and their liquidity.”
Fortunately, Prime Minister Narendra Modi today, May 12 announced a Rs 20 lakh crore stimulus package to tackle the impact of coronavirus and weeks of lockdown. The special economic package is equivalent to around 10 percent of India’s GDP. Hopefully, it will help industries save jobs.
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