Bengaluru: Nasdaq-listed IT services firm Cognizant Technology Solutions Corp. has laid off thousands of employees on bench, who were not actively involved in any client projects.
In IT services companies, employees on bench are considered “non-billable" resources as their cost is not billed to any client. However, typically companies maintain a small percentage of bench employees so that they are prepared to execute projects immediately.
State IT employee unions in Karnataka and Chennai have alleged that Cognizant is executing mass layoffs after benching nearly 18,000 employees across India. The numbers could not be independently verified by Mint.
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