# Cognizant is planning a major restructuring under ‘Project Leap’ Freshworks has cut around 500 jobs, or 11% of its global workforce.

*business · news · 2026-05-06 · CNBC TV18*

## Key points

- Cognizant's 'Project Leap' may cut up to 15,000 jobs, with India most affected.
- Cognizant allocated up to $320 million for restructuring and $270 million for severance payments.
- Freshworks' restructuring cut 11% of staff despite a 16% revenue increase in Q1 2026.
- AI now contributes to writing over half of Freshworks' code, as confirmed by the company.
- Microsoft offered its first voluntary buyouts in 51 years instead of direct layoffs.

**Companies:** Cognizant, Freshworks, Meta, Microsoft
**Countries:** India, United States

[Read the full story on CNBC TV18](https://www.cnbctv18.com/webstories/technology/tech-layoffs-in-2026-from-cognizant-to-oracle-over-1-lakh-jobs-lost-23002.htm)

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