IT services major Cognizant is looking at trimming its senior-level headcount, a move that will result in severance costs of up to USD 35 million for the company, its CFO Karen McLoughlin said.
The company, which has a significant portion of its employees based in India, had a total headcount of 2,68,900 at the end of June 2018.
"During the remainder of 2018, we intend to continue to improve our cost structure by further optimising the higher end of our resource pyramid," she said at the company's investor call after the Q2 results.
As a result of these actions, Cognizant expects to incur USD 25 million to USD 35 million in severance costs, McLoughlin said.
Cognizant follows the January to December calendar as its financial year.
"Cognizant's separation program has been designed to realign our workforce with our business strategy and recalibrate the personnel pyramid at the upper levels. This program involved few hundred people globally," a company spokesperson said in response to an email query by
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