I knew our attrition was high, but this is ridiculous.
In the second quarter, Cognizant's attrition was over 22% which the company attributed to internal as well as external factors like increased demand for experienced IT talent.
https://www.ibtimes.co.in/cognizant-layoffs-top-layer-trimmed-make-way-juniors-776839
The attrition rate is very high but so is the intake rate. Net addition of 7500 employees in one quarter should raise some eyebrows. They are hiring left, right and centre. They'll cut around 200 senior level executives anyway. But that might not be enough to balance the payroll and since pay hikes will be coming soon. My hunch is that we're going to see quite a few forced attritns in 2019 via lowest rating as the company will look to cut costs to attain higher profitability.
Digital and others are mostly buzzwords to please the street. Many of the new hirings are in legacy technologies like mainframe.
It is the seniors who make a lot of money but do not contribute would be rightly targeted for layoffs. Any public company with obligation for share holders must do this.