Workers laid off in Cognizant

One of the 100 largest digital companies in 2019, Cognizant, has announced that it will be downsizing its content moderation business and layoff 7000 IT workers. People familiar with this industry believe that very soon, there will be another round of layoff in which a similar number will be retrenched. Content moderation refers to  the process of detecting objectionable content in social media sites like Facebook.

Cognizant laysoff workers

The gross income of Cognizant in 2017-18 was US $ 16 billion and its net profit was US $ 2.8 billion (US $ 1 billion approximately equals 7,000 crore rupees). This ranks Cognizant 193rd rank among the Fortune 500 companies. In 2017, there were world-wide 2,60,200 workers in Cognizant, of which 72 per cent (i.e., 1,88,000) were Indians. In 2017, the company had laid off 10,000 workers in India.

The layoffs are not because the company is not making profit. In the quarter ending in September, the total revenue of Cognizant grew by 4.2 per cent to US $ 4.25 billion compared to one year ago. The net profit in this quarter was US $ 497 million (approximately, 3,500 crore rupees). The net profit in the previous quarter was US $ 477 million.

Now Cognizant has an employee strength of 2,90,000, of which more than 2,15,000 are Indians. This means that the total numbers of workers employed by Cognizant has increased. Similarly, in Tata Consultancy Services, Infosys and Wipro has hired 59 per cent new workers compared to the previous quarter. These three companies have added a total of 28,157 workers in this quarter, while it had added 16,687 workers in the previous quarter. On the one hand, new recruitment is going on; on the older hand, employees are being laid off. Just like Cognizant, various prominent IT companies like Infosys, Deutsch Bank, Cap Gemini and UI Path are laying off workers. For example, Infosys has laidoff more than 10,000 workers this year. Companies are retrenching middle and higher level managers, who are earning higher wages, and hiring junior level workers so  that profits can be maximised.

UNITE, a union of workers of IT and IT enabled services based in Chennai has pointed out that workers are being laid off only to maximize profits. It has called on the workers of IT and ITES to get unionised to defend their interests, so that they can fight against such unjust layoffs.

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Dec 1-15 2019    Struggle for Rights    Rights     2019   

PARTY DOCUMENTS

4th Congress DocumentThe Fourth Congress of the Communist Ghadar Party of India was convened in the last week of October 2010.

The Report of the Fourth Congress was presented by Comrade Lal Singh on behalf of the Central Committee elected by the Third Congress. It was discussed at length and adopted by the Congress. It was been edited for publication by the decision of the Fourth Congress. This publication also contains the Resolutions adopted by the Fourth Congress

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CGPI - 3rd Congress Report

Towards the Rule of Workers and Peasants and a Voluntary Indian Union

This document entitled Towards the Rule of Workers and Peasants and a Voluntary Indian Union contains the Report of the Central Committee presented by Comrade Lal Singh, General Secretary of the Communist Ghadar Party of India, which was discussed and adopted by the Third Congress of the Party, held in January 2005.

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This keynote speech, entitled "Crisis of Capitalism and the dangerous course of the Indian State points to the urgency for communists to prepare for the proletarian revolution!", was delivered by Comrade Lal Singh, General Secretary of CGPI, on behalf of it's Central Committee  at a conference of Indian communists in Nov 2002.

This paper, entitled Only Communism Can Save India! was presented by Comrade Lal Singh, General Secretary of the Central Committee of the Communist Ghadar Party of India, at the Kanpur Communist Conference, 2000. The publication also includes the resolution adopted at the Kanpur Communist Conference, 2000.

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Preparing for the Coming Storms—: Challenge Facing Indian Communists

This report entitled Preparing for the Coming Storms—  Challenge Facing Indian Communists, presented by Comrade Lal Singh, General Secretary of the Communist Ghadar Party of India, on behalf of its Central Committee, was discussed and adopted at the Second Congress of the Communist Ghadar Party of India, held in October 1998.

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  • Year: 1999
  • Author: CGPI
  • Languages: English
  • Mediums: Print
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Description: Consultative Conference - Renewal of India, Call of the New Century