400 opt for Cognizant`s VSP |
About 400 senior executives of Cognizant have accepted the company`s voluntary separation package (VSP), a move that, the U.S.-based company said, will help it save about $60 million annually. In May, the company had initiated a voluntary separation programme, offering up to nine months of salary some of its top-level executives in the U.S. and India. Cognizant has a significant chunk of its total 2.56 lakh workforce in India and it is estimated that of the 400 people who opted for the separation, a large number could be from India. However, the company did not disclose the number of Indian executives who have accepted the offer. “Of the $39 million of realignment charges, $35 million was for the roughly 400 associates who accepted our VSP.
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