Learn or Leave: Two Major IT Companies are Either Reskilling Employees or Slashing Jobs!

Amid the prevailing economic slowdown and job losses, two major IT companies are trying to impart skills to their employees to improve productivity and efficiency. 

Last month, Cognizant said it is planning to reskill and redeploy employees from its mid and top tiers as part of its structural rejig.

“The gross reduction is expected to lead to a net reduction of approximately 5,000 to 7,000 roles as the company aims to reskill and redeploy approximately 5,000 of the total associates impacted," said Cognizant's Chief Financial Officer Karen McLoughlin.

Capgemini too said that it reskilled over 51,000 of its employees in technologies like cloud, devOps and big data in 2019 so far. Last year, the company upskilled over 60,000 employees through its 'Automation Drive Academy'.

However, neither of the two companies are upskilling all of its employees. Capgemini has already started laying off hundreds of people in India while in Cognizant, as many as 7,000 mid and senior level jobs are on the line.