Cognizant plans another round of layoffs to slash costs, says report

Cognizant is also exercising tighter control over expenses through a number of measures, including a slower pace of hiring and reduced travel expenses

Cognizant is readying to let go of a few hundred employees, as it plans another round of layoffs as part of its strategy to slash costs, the Economic Times reported on Friday, citing sources with knowledge of the matter. Further, the report said that more ways of cutting spending were on the anvil at the IT major. 

A source with knowledge of the matter told the financial daily that this was part of the appraisal process, which was "getting stricter". The source said, "If you were a marginal performer or have not been allocated (a project), then they would look