Cognizant net income declines 17%; to hire 20,000 at entry-level in 2020

Teaneck-based IT major Cognizant has reported a decline of 16.78 per cent in net income at $367 million for the quarter ended March 31, 2020, as compared to $441 million in the same period a year ago.

The company is aiming to invest in business and would onboard around 20,000 entry-level executives in 2020.

Its revenue grew by 2.8 per cent to $4.22 billion during the quarter compared to $4.11 billion a year ago, after a negative 50 basis points impact from the exit of certain content services business it had announced earlier.

The company said that the Covid-19 related