US-based IT services company Cognizant plans to onboard 50,000 freshers from India in the calendar year 2022 (CY22), as per media reports. The hiring numbers are one of the highest ever from the company.
The Nasdaq-listed company added a record 33,000 freshers in India in CY21 and ended the year with a total headcount of 330,600, up 14 per cent year-on-year.
The company reported an attrition of 31% of the Q4FY21 (it follows the January-December financial calendar). Though the attrition numbers are higher compared to peers TCS, Infosys and Wipro, they have come down for the company on a sequential basis. Cognizant had reported attrition of 33 per cent in Q3FY21.
“While the rest of the industry at least saw an uptick on attrition for this quarter we have managed to get a little respite on a quarter-on-quarter. Is this sustainable? We are doing everything within the organization to make sure that it sustains, but attrition is always dependent on market dynamics,” Business Standard quoted Rajesh Nambiar, chairman, Cognizant India and president digital business and technology as saying.
“Our commitment to hire such big numbers has been the highest in the history of Cognizant and we are doubling down,” added Nambiar.
Meanwhile, Cognizant today announced its fourth quarter and full-year 2021 financial results. The IT ginat posted over 10 per cent growth in its full-year 2021 revenue at USD18.5 billion, as it returned to double-digit annual revenue growth for the first time since 2015.
"I'm proud of Cognizant's broad-based progress over the past year. We successfully executed our strategy by meaningfully enhancing our digital portfolio, strengthening our international presence, and helping our clients be successful," said Brian Humphries, chief executive officer.
"We enter 2022 with momentum and confidence that our talented employees position us to capture the substantial market opportunity," he added.