Cognizant saw a 7,000+ employee decrease and 10% reduced attrition rate in Q1 2024 due to slow revenue growth from economic challenges.
Cognizant reported a 7,000+ employee decrease in Q1 2024 vs. last year, with a total headcount of 344,400. The IT firm's attrition rate fell by 10% to 13.1%, and its utilization rate improved by 1% to 82%. This trend mirrors leading IT firms like Infosys, TCS, Wipro, and Tech Mahindra, which experienced similar reductions due to slow revenue growth caused by global economic challenges.
May 02, 2024
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