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At least 9 months’ pay! Cognizant top execs get voluntary separation option

Source | business-standard.com  |  BY:

Cognizant Technology Solutions has floated a voluntary separation option for its employees at the senior management level, at a time when the company is pushing for automation and digital technology and is in the process of trimming its workforce.

 

The Nasdaq-listed US-based company, which has most of its India operations in Tamil Nadu, confirmed the development. Other information technology majors did not respond to calls and emails from Business Standard on whether they were also considering similar schemes.

 

Cognizant said the option had been offered to senior executives — from director level to senior vice-president. Sources in the company said that those who had annual salaries in excess of Rs 40 lakh might also be eligible for the option. A minimum of nine-month salary will be paid as compensation under the initiative, depending on the executive’s post.
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