When we list out the world's top 500 companies, Cognizant technologies would be having fair and inevitable place as this US based tech company has been one of the reputed information and technology companies in the world. This blue chip company currently employs about 2.9 lakh people across the globe and Indians make 50% of the company's total manpower resource.
The recent reports have shockingly revealed that about 12,000 employees of the company would face massive job cuts in near future and these employees were hired as outsourced manpower under contract basis and it has been also reported that about 18,000 employees of Cognizant would be expected to lose the jobs and most of these employees are Indians. Whenever the major companies perform unprecedented job cuts, it would be in the move of balancing the fiscal deficits and instability but Cognizant had claimed that the company had earned about $4.25 billion in the third quarter of 2019 that had showcased with no possibilities of facing fiscal deficits and the IT employees blame the company to make more profits by suspending their employments.
With the view of attaining its objective, Cognizant had drafted a solid and stable growth plan in 2020 where as per the draft, the company will invest about $200 million to locate unworthy and incapable employees at medium and grass root level after which they will be terminated from the company and the company believes that by replacing capable and exceptional workers in the place of undeserved employees, it would draw more than $550 million as additional income and although it may seemed to be the plan to bank more revenues, most of the employees claim that by executing massive job cuts, the company fails to respect them.
Of those 12,000 employees who were predicted to lose their jobs, about 6,000 of them were working for the client Facebook. Most of those employees have stated that they had undergone extreme depression due to brutality of work and exorbitant targets. Facebook had literally awaken after a 42 year old employee had committed suicide in the month of June and by citing the death, Facebook had eventually dismissed the agreement with Cognizant to hire its employees and sources had revealed that Cognizant had taken this crucial decision after new CEO Brian Humphries assumed his office in April 2019 but however, despite of queuing up with series of accusations, Cognizant is yet to comment its notion on the reason for this unprecedented and relentless job cuts.
While we questioned about the shocking developments to the general secretary of 'UNITE', an IT employees union Mr.Azhagunambi, he said that Cognizant had made prior announcements that the contingent moderation operations will fully be suspended and by firing thousands of employees, it seems that they have been flagging the initial stage of cutting the jobs. He stated that instead of terminating the employees from the jobs like air balloons, the company can conduct efficient training sessions for them towards enhancing their skills and blamed the government which has been muted upon this massive unemployment.
There were similar job cuts faced by HCL employees who worked for Google where the affected employees voiced together against the company and they further fought a legal battle after which HCL eared and respected the voice of the employees by not firing them. The sources had said that this would be the major job cuts that India ever witnessed and its high time that the IT employees must unite together against such uncertainty that would shake their future.