Page 4 - Cognizant

Wipro's leadership crisis gets more severe with Thierry Delaporte's exit

While analysts and industry watchers saw Delaporte's exit coming, it was not expected to be this abrupt, this soon

Cognizant defers annual salary hikes to Aug 1, says 'recognises hard work'

Nasdaq-listed information technology company employs some 250,000 people in India

Cognizant defers salary hikes by four months to August 1, says report

Cognizant said that the majority of its associates have seen four merit increases within 3 years, with the last cycle being April 1, 2023

Cognizant CEO Ravi Kumar S joins USISPF as member of board of directors

Ravi Kumar S, the CEO of Cognizant, has joined the US-India Strategic and Partnership Forum as a member of its board of directors, it was announced on Tuesday. Ravi is a doyen in the tech industry and is a foremost thought leader who has unparalleled insights on the dynamic and fast-changing nature of the tech sector, USISPF president and CEO Mukesh Aghi said in an announcement. In an era of a digital-first economy and digital trade, Cognizant's work through the years exemplifies the burgeoning collaboration in the US-India technology partnership success story, he said. India's robust tech talent remains pivotal in fortifying and expanding the tech sector within the United States, Aghi said. Congratulating Ravi, USISPF Chairman John Chambers said the Cognizant CEO is an accomplished leader in IT services, and his broad experience in the industry touching digital transformation, engineering services, data analytics, and more puts him in the top calibre of experts supporting ...

Cognizant asks India employees to work from office for three days in a week

Around 254,000 of Cognizant's 347,700 employees are based in India, making it the firm's largest employee base, according to its annual report

Cognizant's workforce reduces by 7,600 in 2023; 4,500 cut in India

Total global headcount of Cognizant at the end of 2023 was 347,700, with nearly 250,000 employees in India

Cognizant Q4 profit up 7% at $558 mn, 2024 revenue guidance at -2% to 2%

The firm, based in Teaneck, New Jersey, reported a 7 per cent increase in net profit at $558 million for the December quarter

'It's nothing personal': Wipro on lawsuits against senior executives

Wipro sued Dalal, accusing him of violating the non-compete clause in his employment contract by joining rival Cognizant within 12 months from his last date of work

SC upholds HC order directing Cognizant to pay Rs 2,956 crore to IT dept

Cognizant, in December last year, sought an interim stay on all recovery proceedings against it and offered to pay the base amount of Rs 1,500 crore in cash

It's talent tug of war: Why Cognizant is in the crosshairs of top IT firms

Cognizant pulling top executives from rivals has triggered a legal battle at a time when the pie is shrinking

Court to pass orders on ex-CFO's plea for arbitration with Wipro on Jan 3

A civil court in Bengaluru will pass orders on January 3 on two interlocutory applications (IA) by Wipro Limited's former Chief Financial Officer (CFO) Jatin Pravinchandra Dalal seeking arbitration with his former company. The suit filed by Wipro on November 28 seeks payment of compensation of Rs 25,15,52,875 with interest of 18 per cent for allegedly violating a clause in his employment contract with the company. Dalal resigned from Wipro in September and is set to join rival Cognizant in January. Allegedly, the non-compete clause prevents Dalal from joining a rival within one year of leaving the company, failing which he would be liable to compensate Wipro with the value of the Restricted Stock Units (RSU) allotted to him or the sum of his total remuneration in the previous 12 months. Earlier on November 28, the counsel for Dalal had filed a memo stating that the defendant was hospitalised. In a subsequent hearing, Dalal's counsel filed IA No 4 under Section 8(2) of the Arbitrati

Infosys accuses Cognizant of unfair employee poaching, sends letter to firm

Infosys sent a written communication to Cognizant after a number of its senior executives left to join the firm

Wipro files suit against former CFO Jatin Dalal after he joins Cognizant

The IT giant also recently filed a complaint against its former senior executive Mohd Haque, and accused him of violating a non-compete clause embedded within his employment contract

Wipro files case against former CFO Jatin Dalal who moved to Cognizant

Dalal has sought that the matter be referred to arbitration, the case will now be heard by a Bengaluru civil court on January 3

Cognizant shifts to asset-light model; to sell assets in Hyderabad, Chennai

The company has already vacated 1.15 million square feet of office space in Chennai, including 500,000 square feet in the DLF Cybercity SEZ and 650,000 square feet in the Ramanujan IT SEZ

Cognizant Q3 profit down 16.5%, 2023 revenue guidance at -0.7% to flat

The revenue for Q4 is expected to be in the range of $4.69-$4.82 bn, a fall of 4% to 1.2% in constant currency, due to furloughs and lower number of working days in the Dec quarter

Cognizant appoints Wipro's Jatin Dalal as its next chief financial officer

Dalal will report to Ravi Kumar S, Cognizant's Chief Executive Officer (CEO), who joined the company last October

Cognizant liable to pay dividend distribution tax on shares buyback: ITAT

The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has dismissed an appeal of Cognizant Technology Solutions India and ruled that the company is liable to pay Dividend Distribution Tax (DDT) on buyback of Rs 19,000 crore worth of shares under a scheme of arrangement. Dismissing the appeal of Cognizant Technology Solutions India, ITAT held that the consideration paid by the company for purchase of its own shares in accordance with the scheme sanctioned by the Madras High Court "amounts to distribution of accumulated profits which entails release of all or part of assets of a company on reduction of capital which attracts provisions of Sec.2(22) of the Income Tax Act, 1961." Cognizant Technology Solutions in the assessment year 2017-18 purchased 94,00,534 equity shares of face value Rs 10 from its shareholders based in the US and Mauritius at Rs 20,297 apiece for a total consideration of Rs 19,080.26 crore in accordance with a scheme approved by the Madras High Court. On ..

Nasscom appoints Cognizant chairman, MD Rajesh Nambiar as new chairperson

Nambiar has previously served as the Vice Chairperson of Nasscom and will succeed Anant Maheshwari, Former President, of Microsoft India as its new chairperson

We are infusing GenAI into all our core offerings, says Cognizant CEO

Kumar cited the example of a GenAI-enabled conversational virtual assistant (VA) that Cognizant has introduced to help clients reimagine experiences beyond chatbots