genai / news / / CNBC TV18
Cognizant plans 4,000 job cuts amid AI push, launches Project Leap.
Cognizant may lay off around 4,000 employees, roughly 1% of its global workforce.
KEY POINTS
- Project Leap will cost $230–320 million and targets AI, automation, and upskilling initiatives.
- The company anticipates up to $300 million in savings from Project Leap within this year.
- Cognizant plans to hire over 20,000 freshers this year despite mid-level job cuts.
- This is the second layoff round since CEO S Ravi Kumar took charge in January 2023.
COMPANIES
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