Headcount of Cognizant in India fell by 8000 by 2017 end, even as the amount of individuals it provides work in Europe and the U.S. increased, the annual filing of the company with Securities and Exchange Commission of the U.S. displayed. At the end of last year, the company provided job for almost 260,000 individuals, out of which 180,000 were from India. At the end of 2016, the headcount of the company stood at 260,200 individuals, out of which 188,000 were from India.
The U.S. headcount of Cognizant increased to 50,400 by almost 2900 and its headcount in Europe increased by almost 2300 by 2017 end. For the initial time, IT companies in India are witnessing dropping headcounts as a requirement to generate talent overseas and automation makes investing in headcount of India far less significant. The Nasscom (National Association of Software and Services Companies) has also forecasted decreased growth in the headcount, as firms anticipate to employ in the U.S. in thousands.
The IT segment, which has been a main job maker in the nation, will witness a net inclusion of 10,00,000 individuals in this fiscal, claimed President at Nasscom, R Chandrasekhar, to the media in an interview at the flagship event of the industry in Hyderabad previously this month. The segment included a parallel amount in last fiscal, less than the original projection of an inclusion of 1,50,000 people. Chandrasekhar claimed that it was time to see at segments beyond tech services for growth of the employment.
Earlier this month, revenue of Cognizant increased 10% last year even as its labor force dropped by 200 as compared to a year ago. This happened for a first time in the history. This is a performance that analysts claimed the remaining of the IT segment is working hard to imitate.