After working with Cognizant for over 21 years currently, the EVP, President of Global Growth Markets (GGM), Santosh Thomas has decided to step down from his role to pursue other interests. The news comes in when Cognizant has been undergoing restructuring.
The company has made several executive and leadership changes in recent times. It also slashed many jobs and has shared its plan to further restructure the entire organization as it relooks at its entire business strategy.
Amidst this restructuring phase the role of head of global growth markets is an important one to ensure that the business is not affected. While the IT major continues its search for a new President of Global Growth Markets, it has appointed Manoj Mehta, who leads the company’s continental Europe business, as interim head of global growth markets.
Cognizant’s global growth markets are a key focus for CEO Humphries. The company is increasing its investments in commercial coverage, partnerships and marketing.
Humphries shared, “We aim to meaningfully accelerate growth rates in GGM in the years ahead. We need everyone’s focus, energy and support to make this happen.”
Ever since Humphries took over as CEO, the company has gone through many changes. Besides the leadership team the new decisions at the firm have also impacted jobs at Cognizant.
In October, the Teaneck, New Jersey-headquartered company said it would cut as many as 7000 jobs, and exit content moderation impacting a further 6000 employees, to slash costs and focus on key businesses. As per the latest update, the company has spent $49 million to pay for the employees it has let go and $29 million to retain key employees in the December quarter, as it restructures its business.
Many more changes at Cognizant are probably expected to follow as the business continues to restructure.