Quarterly revenue from Europe rose 35 per cent, the strongest growth since the company started breaking out revenue by region two years ago.
Indian IT firm Cognizant Technologies Corporation started trading at the Nasdaq exchange in New York on March 5.
IT services major Cognizant Technology Solutions Corporation is strengthening its capabilities in the life sciences segment by acquiring New Jersey-based marketRx, provider of analytics and software services to global life sciences companies, for $135 million.
In the last two years we have been growing faster than the rest of the industry. That's why our appetite for more people to serve our customers is very high now, says Cognizant CEO Lakshmi Narayanan.
People with no knowledge of coding or computer languages can use vibe coding using plain English command with AI-assisted software development.
'People are taking effort to train and adapt to current skills.' 'If that is not there, they are not useful to us.' 'They have to adapt to new technology, and what is important is learnability.'
Some major contracts coming up for renewal include TCS' deals with Star Alliance, a consortium of airlines based in Germany, and Nielsen; Infosys' deals with GE Appliances and Daimler; HCLTech's with UK-based life insurer Chesnara; Wipro's with German electric utility company E.ON and Petrobras of Brazil; and Tech Mahindra's with Circle Health.
The acquisition has opened a market to 245,000 healthcare providers, 350 payers (insurance firms) and 180 million lives.
Bengaluru is at a critical juncture, where its economic model, reliant on attracting and retaining skilled professionals, is directly threatened by a measurable decline in urban quality of life, point out Shishir Gupta and Rishita Sachdeva.
Leading software outsourcing firm Cognizant Technology on Tuesday reported a 15.4 per cent rise in net profit at $319.6 million in the quarter to September driven by a strong ramp up in demand for outsourcing services, up from $276.9 million a year ago.
Firm to prune domestic costs through initiatives such as voluntary separation
The Indian government has introduced a bill in the Lok Sabha to ban online games played with money, aiming to curb addiction, money laundering, and financial fraud. The bill also targets advertisements and financial transactions related to such games.
Nasdaq-listed information technology (IT) services firm Cognizant will incur the cost of $400 million over two years as it sets to restructure its operations amid sluggish growth rates. Its NextGen Program aims at simplifying the operating model, optimising corporate functions, and consolidating and realigning office space to reflect a post-pandemic hybrid work environment. As part of this structural shift, Cognizant will eliminate 80,000 seats, or 11 million square feet of real estate in large cities in India.
'Keeping a bench increases cost. If you keep a bench, the skills may not remain relevant.' 'In the future, bench strength will literally be zero.'
An FIR has been lodged against 10 named and 200 unidentified individuals in connection with a clash and stone-pelting incident during a religious procession in Jharkhand's Hazaribag. The clash, involving two communities, broke out over the playing of an objectionable song. Police fired two rounds into the air to control the situation. The incident led to uproarious scenes in the Jharkhand Assembly with BJP MLAs demanding action against the perpetrators.
Cognizant's consulting practice today has 5,500 consultants, perhaps one of the highest numbers when compared to Indian IT players.
Indian Overseas Congress chief Sam Pitroda on Thursday said he was invited to speak at an Indian Institute of Technology-Roorkee event via a video link when just minutes after his speech, a hacker infiltrated and began streaming explicit, inappropriate content.
The man steering Cognizant today is boyish-looking, 44-year-old Francisco D'Souza, who could easily pass for an energetic student at a management school, than for the CEO of a top-flight technology company.
Cognizant becomes the second largest offshore-centric IT services player.
India CMD Ramkumar Ramamoorthy clarified Cognizant would continue hiring, and that the earlier job-cut announcement was but a small one, considering the company had around 290,000 employees globally.
The acquisition would help Cognizant significantly expand its ability to provide industry-focused SAP consulting and software solutions to major retailers enabling them to streamline operations and enhance customer satisfaction, Cognizant said in a statement.
Cognizant Technology Solutions invites Science graduates and post-graduates to join their work force.
Leading global information technology firm Cognizant on Thursday said it has acquired Galileo Performance, a Paris-based provider of IT testing consulting services.
Rajeev Mehta, chief executive for IT services, believes this is due to a few client-specific issues, saying the overall business environment continues to look good.
Indian-origin tech companies cornered a fifth of all H-1B visas issued by the US with Infosys and Tata Consultancy Services leading the pack, an analysis of data from the US immigration department showed. According to data from the US Citizenship and Immigration Services, in April-September 2024 period, out of the total 1.3 lakh H-1B visas issued to different employers, about 24,766 visas were issued to Indian-origin companies.
Despite growing rapidly in an adverse business climate, rumours cast doubts about its future.
In the quarter, Cognizant's revenue grew one per cent over the past quarter in North America.
Cadient clients are spread across pharmaceutical, biotechnology, consumer health and medical device industries.
Rivals like Cognizant Technology Solutions Corp and Infosys Ltd have also sharpened focus on the healthcare sector
Educational institutes feel the pain as hiring roughly 50% of usual this year.
Social media influencer Ranveer Allahbadia and other individuals associated with a YouTube reality show, "India's Got Latent, " face legal trouble after complaints were filed in Mumbai regarding offensive and vulgar content on the show. Two separate complaints, one with the police and another with a city court, were filed by members of the BJP and Congress, respectively. The complaints allege that the show promotes abusive language, vulgarity, and nudity. The YouTuber, with almost 16 million followers, has since apologized for his distasteful comments on parents and sex, which had sparked widespread outrage. The complaints seek action against Allahbadia, show host Samay Raina, fellow YouTuber Ashish Chanchlani, the show's makers, judges, and participants.
Congress president Mallikarjun Kharge has accused the BJP of rigging the Maharashtra assembly elections and called for a return to ballot paper voting. He also criticized the Modi government for selling off public assets, undermining democratic institutions, and promoting communal polarization. Kharge's remarks come as the Congress prepares for its AICC session in Ahmedabad, where it will present its political and economic views.
Buoyed by stellar earnings in the September quarter, IT firm Cognizant said it will offer promotions for its employees at all levels up to managers.
'It is not that the H1B visa employees are coming in to displace jobs.'
The company, which had made voluntary disclosures about the bribery incident to the US authorities, also said with this resolution, there was no pending investigations against Cognizant.
The digital opportunity is not just tech opportunity, but an opportunity to reinvent client business model.
In the ongoing saga of senior management resignations, Wipro announced on Monday that its chief technology officer (CTO) Subha Tatavarti has resigned. Her resignation will be effective from August 16, 2024. In a regulatory filing, the company said: "Subha Tatavarti, CTO, resigned from the services of the company to pursue opportunities outside Wipro."
