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Cognizant might shed 6000 jobs: report

The IT services firm Cognizant is likely to cut at least 6,000 jobs, which represents 2.3% of its total workforce, as it struggles with growth in an IT environment that is fast shifting towards new digital services, according to a report in the Times of India newspaper.

The variable payout to employees for 2016, too, is expected to be adversely affected, according to ToI sources familiar with the matter.

The layoffs are likely to be more this year than the routine annual exercise that weeds out the bottom 1% of the workforce for non-performance as determined by the annual appraisal process that ends in March.Cognizant is said to be looking to cut roles that have become redundant due to the impact of automation on lower-end IT jobs, says the ToI report.

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