400 executives accept Cognizant’s voluntary separation package
Source | Timesofindia.com | BY:PTI
NEW DELHI: About 400 senior executives of Cognizant have accepted the company’s voluntary separation package (VSP), a move that the US-based company said will help it save about US$ 60 million annually.
In May, the company had initiated a voluntary separation programme, offering up to nine months of salary as part of it to some of its top-level executives in the US and India.
Cognizant has a significant chunk of its total 2.56 lakh workforce in India and it is estimated that of the 400 people who opted for the separation, a large number could be from India.
However, the company did not disclose the number of Indian executives who have accepted the offer.