Cognizant announces to lay off 3,500 employees, reduce office spaces
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IT major Cognizant on Thursday said it will lay off 3,500 employees, or approximately 1 per cent of its workforce (mainly non-billable), as it sees revenues slowing down in 2023. The company will also reduce its real estate costs by "eliminating 80,000 seats and 11 million square feet in large cities in India".