Photo: Hindustan TimesNew Delhi:About 400 senior executives of Cognizant have accepted the company’s voluntary separation package (VSP), a move that the US-based company said would help it save about $60 million annually. In May, the company had initiated a voluntary separation programme, offering up to nine months of salary as part of it to some of its top-level executives in the US and 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. “Our attrition level was higher than normal given reductions resulting from performance evaluations and the voluntary separation programme,” McLoughlin said.

Source: Mint August 06, 2017 09:56 UTC