Posted by Nasdaq-listed IT services company Cognizant will be onboarding 50,000 freshers from India in CY22. The company added 33,000 freshers in CY21.
The company reported attrition of 31 per cent of the Q4FY21 (it follows the Jan-Dec 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.
The company ended the year with a total headcount of 330,600, up 14 per cent year-on-year.
“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,” said Rajesh Nambiar, chairman, Cognizant India and president digital business and technology.
The hiring of 50,000 freshers is one of the highest ever number from the company. Unlike in the past when the company focused more on lateral hires, with the need to get more employees on board it has also increased the number of fresher additions to the company. “Our commitment to hire such big numbers has been the highest in the history of Cognizant and we are doubling down,” added Nambiar.