Cognizant to Cut 4,000 Jobs Under 'Project Leap' as IT Services Sector Reshapes for AI

Cognizant unveils ‘Project Leap’, signals workforce reset

Cognizant has launched a large-scale restructuring initiative aimed at reshaping its operations and preparing for future demand. The programme, called Project Leap, will see the company invest between $230 million and $320 million, with a significant share directed toward employee-related expenses. The announcement was made alongside its first-quarter results on 29 April. While the company has avoided explicitly calling it layoffs, a major porti…

Cognizant’s $320M ‘Project Leap’ Sets Aside $270M for Severance, Thousands of Jobs at Risk

Cognizant has confirmed a sweeping internal overhaul it calls Project Leap Cognizant, backed by a financial commitment of between $230 million and $320 million. The announcement positions the company among a growing number of global IT firms restructuring their operations around artificial intelligence.Between $200 million and $270 million of that total will go directly toward employee severance pay for staff leaving the organisation. The compan…

Cognizant to Cut 4,000 Jobs Under 'Project Leap' as IT Services Sector Reshapes for AI

Cognizant Technology Solutions (Nasdaq: CTSH) plans to cut approximately 4,000 jobs — roughly 1% of its global workforce — as part of a restructuring programme announced alongside first-quarter earnings on April 29, according to two people familiar with the matter. The company did not publicly confirm the number. Project Leap will cost $230–320 million in restructuring charges, with $200–270 million in employee severance incurred between April a…

Cognizant Sets Aside $270M for Layoffs Under Project Leap

As part of a larger reorganisation plan, Cognizant has allocated up to $270 million to cover expenses connected to employees. Therefore, the corporation is announcing changes to its personnel as it aims to reorganise its operations for an AI-driven environment. The total cost of the proposal, known as Project Leap, is estimated to be between $230 million and $320 million, as reported by media houses citing business disclosures.Severance and pers…