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Cognizant’s US headcount drops

. Cognizant is hiring to expand in Europe as it looks to diversify revenue streams. The drop in North America headcount at the US-headquartered company comes at a time when Indian IT firms are increasingly hiring in that market to deal with visa restrictions.

, ET Bureau|
Last Updated: Feb 17, 2020, 08.33 AM IST
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At the end of 2019, Cognizant reported its number of its employees in North America at about 46,400, down from about 50,000 at the end of 2018.
Cognizant’s headcount in North America dropped by more than 3,000 in 2019, as the IT services company restructures its operations to cut costs and drive growth. At the end of 2019, Cognizant reported its number of its employees in North America at about 46,400, down from about 50,000 at the end of 2018. During the same period, headcount in Europe grew 2,900 to 21,200, while that in India increased 9,000 to over 203,000. Cognizant is hiring to expand in Europe as it looks to diversify revenue streams. The drop in North America headcount at the US-headquartered company comes at a time when Indian IT firms are increasingly hiring in that market to deal with visa restrictions. The number of executive officers at the company has also dropped to 11 at the end of 2019 from 18 a year earlier, Cognizant’s annual filings showed.

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