Cognizant faces Dip in headcount, decline by 7,600 employees

An American multinational information technology services and consulting company, Cognizant faced a dip in headcount.

Cognizant India unit’s headcount decreased by 4,500 employees to reach a total of 254,000 by the end of 2023.

The company had reported 347,700 employees at the end of 2023 globally, which was less by 7,600 compared to December 31, 2022, when it stood at 355,300.

Cognizant’s total global headcount at the end of the fourth quarter was 347,700, an increase of 1,100 from Q3 2023 but a decrease of 7,600 from Q4 2022. In the previous quarter, the total headcount stood at 346,600.

However, Cognizant’s voluntary attrition Q4FY23 stood at 13.8% as compared to 25.6% for the FY2022.

The company has continued to invest in generative AI, cloud, data modernization, digital engineering, and IoT.

During the Q4FY23 results, Ravi Kumar S, Chief Executive Officer, said, “I’m grateful to our nearly 350,000 employees for their tremendous year-long work enhancing our strength as industry experts, collaborative partners, and passionate innovators for our clients.”

“To keep advancing our ability to design and deliver solutions, we continue to invest in generative AI, cloud, data modernization, digital engineering, and IoT”, Ravi Kumar S said.

Like in India, the headcount in North America also experienced a decline, reaching 40,500 at the end of 2023 compared to 41,100 the previous year.

Similarly, Continental Europe and the United Kingdom witnessed a decrease, with Continental Europe’s headcount was 16,300 and the United Kingdom’s headcount was 8,500.

Headcount of Peer Companies in Q3FY24

The IT giant, Tech Mahindra reported a drop of 4,354 employees in Headcounts compared to the previous quarter. The total headcount in the third quarter stood at 146,250. If you look at the Drop-in Headcounts in its peer companies Like TCS, Infosys, Wipro and HCLTech below is the data.

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