Cognizant raises lower-end of 2017 guidance again

IT services provider Cognizant seemed all set to clock the upper end of its full-year guidance for calendar year 2017, raising the lower-end of its forecast once again. The company, which had changed its revenue growth forecast for 2017 to 9-10% from 8-10% last quarter, further fine-tuned it to 9.5%-10.0% this time. It now expects […]

Cognizant to beef up digital practice with acquisition of Zone

Continuing the trend of IT outsourcing companies topping up their digital practice with targeted acquisitions, Cognizant said it agreed to acquire Zone, a digital agency specializing in customer experience, digital strategy, technology and content creation. The transaction is expected to close in the fourth quarter of 2017, subject to satisfaction of certain closing conditions, it […]

Cognizant says will layoff employees, close facilities this year

Cognizant, one of the largest employers in India, said it will let go off some of its employees and shut down some of its facilities as part of its ongoing shift away from traditional outsourcing to ‘digital transformation work’. The company said it is ‘accelerating its shift’ to ‘high value, digital transformation’ work, “while continuing […]

Cognizant layoffs may be heading to TN labour courts as FITE preps petitions

Forum for IT Employees or FITE — an organization that claims to speak for ordinary IT workers — said a group of employees of Cognizant Technology Solutions will approach the office of Labour Commissioner of Chennai today. “Affected CTS employees file petition to the Labour Commissioner in Chennai,” the organization said in a communication to […]

After Cognizant, Wipro employees on edge as annual appraisal starts

Employees of Wipro Ltd are nervous as the information technology giant has kicked off its annual appraisal process this month. The first of the several reviews, known as L1 or level 1, has been completed, and at least some employees are feeling the pressure. “I’ve got to know that I have been marked as NI […]

FITE urges Cognizant employees not to submit resignations

Forum for IT Employees or FITE, a web-based IT workers’ collective, has urged employees of Cognizant Technology Solutions not to resign voluntarily if asked by the company’s human resources department. “If the employee resigns his/her job, a month’s salary or three months’ salary should be paid as specified in his/her offer letter. However, if the […]

Cognizant cuts FY growth guidance to 8.5%-9.0% from 8.5%-9.5%

Cognizant, the low-margin, high-growth IT services company, seems to also have fallen prey to the ongoing slowness in the IT outsourcing sector. The company reported revenue growth of just 2.5% — less than that of Infosys — for the third quarter of this calendar year. Infosys had reported a growth of 3.5% in dollar terms, […]

Cognizant to help transform Future Group’s consumer business

Cognizant said that it has entered into a partnership with Future Group, an Indian multi-brand retailer, to transform its consumer goods business, Future Consumer Limited (FCL), into a connected enterprise. “In an era where data, insights and supply chain intelligence are crucial ingredients for turning success into market leadership, Cognizant’s technology, business process, platform and […]

Cognizant reports 6.2% revenue growth, sees 2015 up 19%

Cognizant Technology Solutions Corporation (NASDAQ: CTSH), a leading provider of information technology, consulting, and business process outsourcing services, said Q4 revenue rose to $2.74 billion, up 16.4% from the year-ago quarter and 6.2% sequentially. In comparison, Infosys and TCS have reported sequential growth in the range of 1% for the same quarter. Adjusted for acquisitions, […]