Cognizant's India operations have laid off 6,000 employees as the company pivots towards more digital and software services. This move is part of Cognizant's broader strategy to focus on high-margin sectors and reduce dependency on traditional IT services.
In a surprising move, a leading tech company has announced significant layoffs impacting its Indian workforce. The decision comes as part of a broader restructuring effort aimed at improving efficiency. Employees across various departments have been affected, leading to uncertainty and concern among the staff. The company aims to support impacted employees through severance packages and career transition services.
The tech industry continues to face massive layoffs in 2024, with over 1,30,000 IT employees losing their jobs so far. Over 1,30,000 IT employees have lost their jobs in 2024 due to ongoing tech layoffs Cisco, Intel, Microsoft, among the top companies who announced workforce reductions Economic challenges are driving these job cuts The tech industry, which was shaken by mass layoffs at the start of 2023, has continued to experience rounds of...
An e-commerce giant has decided to cut down its workforce in India, citing market volatility and financial constraints. The layoffs are expected to affect several hundred employees. The company is reallocating resources to focus on core business areas as part of its strategy to navigate the challenging economic environment. The affected employees will receive assistance in the form of severance pay and outplacement services.
Flipkart has cut 15% of its workforce, citing overstaffing following the festive season sales spike. The layoffs are part of a broader restructuring effort intended to streamline operations and maintain profitability in a competitive market.
The tech sector witnessed a significant increase in job losses in August, with over 27,000 employees affected. Major tech firms, including Intel, IBM, and Cisco, along with more than 40 smaller startups, announced substantial layoffs. So far this year, the industry has seen over 136,000 tech professionals laid off across 422 companies. Intel cuts 15,000 jobs On Thursday, Intel announced in a memo to its employees that it...
The Indian startup ecosystem has witnessed a surge in layoffs as several companies struggle to secure funding and achieve profitability. Multiple startups across sectors have resorted to downsizing their teams. Employees affected by the layoffs are facing a tough job market, with limited opportunities available. Many companies are providing severance benefits and support for affected workers.
Food delivery app Zomato has laid off hundreds of employees in an effort to improve financial health and streamline operations. The company is shifting focus towards profitability and operational efficiency while navigating a challenging competitive landscape.
A leading pharmaceutical firm has announced layoffs in its Indian operations as it looks to cut costs and improve profitability. The decision comes amid increasing market pressures and competition. The layoffs will affect employees across different roles, with the company pledging to offer severance pay and reemployment assistance. This move reflects broader challenges faced by the pharmaceutical industry.
Ride-sharing company Ola has laid off 20% of its employees as it struggles with cash burn and aims to streamline its business operations. These layoffs are part of an organisational restructuring to ensure long-term sustainability and profitability.
A major Indian bank has announced a significant downsizing of its workforce as it accelerates its digital transformation efforts. The move is aimed at reducing operational costs and enhancing service efficiency. Affected employees have expressed concerns over job security and future employment prospects. The bank plans to provide support through financial compensation and retraining programs.