Tata Consultancy Services (TCS), Cognizant and eight other major corporations have been questioned by US Senators for filing thousands of H-1B skilled labour visa petitions after conducting "mass layoffs" of American employees.
Nasdaq-listed Cognizant Technology Solutions has signed a definitive agreement to acquire global engineering company Belcan for about $1.3 billion (Rs 10,853.7 crore) in cash and stock. The transaction is expected to close in the September quarter. The total consideration includes $1.19 billion (Rs 9,935.31 crore) in cash and 1.47 million Cognizant shares, valued at $97 million (Rs 809.53 crore) based on the information technology services provider's closing share price on June 7, 2024.
Cognizant Technology Solutions is infusing generative artificial intelligence (GenAI) into all its core offerings, chief executive Ravi Kumar S wrote in an internal note to its employees. Cognizant has 351,500 employees, a majority of whom are in India. Kumar cited the example of a GenAI-enabled conversational virtual assistant (VA) that Cognizant has introduced to help clients reimagine experiences beyond chatbots.
Cognizant Technology Solutions has restructured its global growth markets (GGM) by appointing two internal leaders who will now share the responsibility. The move follows the exit of former GGM leader Rob Walker last month and is among the slew of leadership changes the company has seen in the recent past. GGM refers to the company's emerging markets outside of North America.
Indian IT services companies have seen several CEO changes that have, over the past few months, led to some crucial exits at the mid-senior level in a trend that is likely to continue. According to a recent Motilal Oswal report, "Movement of mid-to-senior leadership at IT services firms is a reality, partially on account of multiple CEO-level changes.
Cognizant Technology Solutions invites Science graduates and post-graduates to join their work force.
Rivals like Cognizant Technology Solutions Corp and Infosys Ltd have also sharpened focus on the healthcare sector
Four developers, including L&T Chennai Projects and Welspun Anjar, have approached the Commerce Ministry to surrender their IT and textile zones respectively.
In tougher times, there seems to be an overwhelming focus on managing the large or anchor clients.
Information technology services company Cognizant Technology Solutions on Monday met its revenue guidance given for the quarter ended March 30 and projected its April-June revenues to cross those of Infosys, something long anticipated in industry circles.
At a recent meeting, the Board of Approval headed by Commerce Secretary S R Rao, also allowed three SEZ developers to surrender their project.
Size of targeted firms for M&As increases from $10-20 mn to $80-100 mn.
Eighteen American information technology professionals have filed a civil lawsuit against its former employer, Cognizant, for replacing them with people from India who were hired by the IT major on H-1B visas.
Educational institutes feel the pain as hiring roughly 50% of usual this year.
Refining its inorganic growth strategy further after carrying out acquisitions in consulting and analytics areas down the years, Cognizant Technology Solutions is understood to be scouting for business process outsourcing firms specialising in insurance in the US and Europe.
Hiring during a recession and leveraging a stable succession gameplan are just a few amongst many other things that this firm did right.
Adding another feather to its cap, IT major Cognizant has joined the prestigious league of Fortune 500 companies.
Nasdaq-listed IT company Cognizant Technology Solutions Corp on Tuesday announced the acquisition of Pepperweed Advisors, the IT consulting services division of US-based Pepperweed Consulting, for an undisclosed sum.
Francisco D' Souza, president and chief executive of Cognizant Technology Solutions (earlier called Dun and Bradstreet Satyam Software), believes Asia and Latin America would be the nearly $3-billion New Jersey-based offshore IT service major's focus areas of growth.
Walmart has selected three IT vendors in India -- Infosys Technologies, Cognizant Technology Solutions and UST Global -- for multi-year contracts worth over $600 million (around Rs 2,750 crore).
Praising them for "being forthright and transparent with shareholders", a magazine has named three India-origin chief executives-- Indra Nooyi, Francisco D'Souza and Ramani Ayer among the best CEOs in the US.
Though domestic IT majors like Infosys Technologies, Tata Consultancy Services and HCL Technologies painted a gloomy picture of the IT sector in the coming quarters, technology bellwether Cognizant Technology Solutions and Genpact, India's largest Business Process Outsourcing firm, not only posted better results but have also given decent guidance to the markets.
Nasdaq-listed Cognizant Technology Solutions, which did not complete the due diligence process for Satyam Computer Services, is understood to be back in the race to acquire the troubled software company.
Ganesh Natarajan, deputy chairman and managing director, Zensar Technologies Limited has been appointed vice chairman, Nasscom for the current year.
Indian American and Indian entrepreneurs believe the West Bengal government, which is projecting the state as an ideal investment destination for information technology and hi-tech industries, has to go a long way before it can become India's number one hub for such industries.
The Indian Institute of Management, Kozhikode, invites industry delegates and management students to attend its annual IT Management seminar, AIMS 2006.
Software firm Cognizant Technology Solutions will be recruiting about 18,000 IT professionals before the year end in addition to the present 38,000 workforce, a top company official said on Saturday.
Three Indians are among 40 recipients of Securities and Investment Institute awards, organised by the London Stock Exchange members for those in the investment industry.
IT and business process outsourcing services provider Cognizant Technology Solutions Corporation has expanded its share repurchase programme to $200 million.
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.
The Andhra Pradesh government on Wednesday ratified the allotment of 40 acres of land to Cognizant Technology Solutions India Pvt Ltd and 75 acres to Tata Consultancy Services at Adibatla on the outskirts of Hyderabad
In the first phase, 400 professionals would be recruited and trained for the 37,000 square feet new facility housed at the special economic zone notified Muthoot IT park, Cognizant Vice-Chairman Lakshmi Narayanan told reporters in Koch.
'Francisco D'Souza, 39, heads what is now the largest public company run by a 40-or-under CEO, though his $ 5.7-billion Cognizant Technology Solutions is dwarfed by the $ 16.9-billion Yahoo!.' Forbes said. 'D'Souza has been an officer at Cognizant for 11 years now, chief executive since 2007, and chief operating officer since 2003, when he was a mere 33.'
Cognizant, an IT service provider,plans to start operations in Hungary and Philippines. The company is also considering expanding to Europe.
The new facility of Cognizant Technology Solutions, a leading global IT offshore services provider, at Coimbatore is set to go operational soon, a senior company official said.
With top IT destinations including Bangalore and Mumbai facing infrastructure problems, Coimbatore is slowly emerging as a preferred destination for leading information technology firms among second-rung cities.
Sipika Singh switched careers from being a senior consultant with Ernst and Young to a regional marketing role in the pharma major, Novartis in Singapore.
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