business / news / / CNBC TV18
Cognizant is planning a major restructuring under ‘Project Leap’ Freshworks has cut around 500 jobs, or 11% of its global workforce.
Cognizant's 'Project Leap' may cut up to 15,000 jobs, with India most affected.
KEY POINTS
- 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
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