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After bribery disclosure, Cognizant goes slow on greenfield expansion

Cognizant had stated the company paid around $28 million to the US Department of Justice to settle the charges that it violated

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Tamil Nadu  |  Us Department Of Justice  |  Us Sec

T E Narasimhan & Gireesh Babu  |  Chennai 

Cognizant, an IT services company, is treading cautiously on capacity expansion in India, especially with regard to setting up its physical infrastructure, after its disclosure to the US Department of Justice and the Securities and Exchange Commission (SEC) of the violation of Foreign Corrupt Practices Act (FCPA).

While the Nasdaq-listed firm is not pursuing greenfield expansion in the country and relying on leased facilities for new demands, the incident, which came to light in 2016, is also said to have claimed 200-300 jobs so far mainly in areas like administration, legal, and ...

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First Published: Mon, February 18 2019. 22:12 IST
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