Social Capital: No ‘return to office’ mandate at Cognizant – Times of India

Social Capital: No 'return to office' mandate at Cognizant - Times of India

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BENGALURU: Unlike its peers, Cognizant is not mandating its employees to return to office any time soon. “We did express that social capital is important as we have freshers in the mix who will need hand-holding. It won’t be impactful if the managers don’t come to work. We will have a more natural progression of return-to-work,” Cognizant CEO Ravi Kumar said during an earnings call on Thursday. “Our flexible return to work is actually helping us get in more women to work as opposed to affecting them,” he said.

Among IT services firms, Cognizant has been the most aggressive in attempting to cut real estate costs. At an investor conference, Kumar said he plans to reduce 80,000 seats in big cities, and repurpose a part of it to tier-2 cities. Cognizant has embarked on a $400-million programme to boost margins by cutting workforce and real estate costs.
Cognizant’s revenue declined by 0.1% in constant currency in the June quarter as clients’ spending in financial services and communications, media & technology continues to remain weak.



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