Surprise! No.
“Cognizant to cut over 4,000 jobs as ‘Project Leap’ drives AI focus
by VARINDIA 2026-05-02”
Https://www.varindia.com/news/Cognizant-to-cut-over-4,000-jobs-as-%E2%80%98Project-Leap%E2%80%99-drives-AI-focus
3 replies (most recent on top)
Does anyone know anything about Cognizant's severance policy? This would be a good time to find out.
@aa yes, but outsourcing saves FIS from having to pay out the very expensive severance to many long term employees. Although somewhere on this page is a statement about FIS having over two hundred million in their severance fund, having pay it out is another thing. Franklin Templeton employees who were similarly moved to Heritage funds instead of being laid off, had been told that there would be no lump sum pay out due to the large severance due to so many employees. FIS can't or won't pay out in a lump sum because they can't afford it, due to the number of lay offs. Think about that. They are playing financial checkers with their books.
If AI can do well, no outsourcing is needed, just layoffs.