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The company cut its revenue growth guidance in constant currency from 8. In reported terms, it gave a guidance of 6. This, it said, in part reflects the impact of supply-demand imbalances, elevated attrition and softer-than-expected hiring.
A note by Kotak Institutional Equities said the company has benefitted from a strong discretionary environment, which can moderate. It added that Cognizant is losing its share in key verticals. With regard to the demand environment, Chief Executive Officer Brian Humphries said the company was monitoring the impact of a worsening economy in the pipeline, but has not seen a significant slowdown for IT services so far.
It saw voluntary attrition of 32 percent on a trailing-twelve-month basis. Voluntary Annualised Attrition came in at 31 percent, and involuntary attrition rose to 5 percent. CFO Jan Siegmund said the second quarter is typically a higher attrition quarter for the company and has to do with the bonus payments given by the company at the end of March.
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WebNov 6, · We partnered with Cognizant to conduct the quantitative analysis. The team deployed innovative machine learning models to analyze over data elements, . WebJan 13, · Cognizant, once a barometer of growth for the Indian IT sector, has since ceded considerable ground to its peers, faced extremely high levels of attrition and has . WebFeb 3, · Cognizant, one of the world’s leading professional services companies, today announced its fourth-quarter and full-year financial results. The company reported .