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After a series of corporate re-organizations there was an initial public offering in Cognizant had a period of fast growth during the s and became a Fortune company in ; as of , it is ranked In June , IMS Health partially spun off the company, conducting an initial public offering of the Cognizant stock. They earmarked the money for debt payments and upgrading company offices. Lakshmi Narayanan was succeeded by Francisco D'Souza in Cognizant experienced a period of fast growth during the s, as reflected by its appearance in Fortune magazine's " Fastest-Growing Companies" list for ten consecutive years from to On 24 June , the company signed a multimillion-dollar agreement with Escorts Group in India to help Escorts' businesses in digital transformation and modernizing its operations across all business segments.
On 30 June , it partnered with Singapore -based supermarket retailer NTUC FairPrice to perform digital transformation in NTUC's business to improve personalized and consistent customer service across multiple channels. The company has a number of offshore development centers outside the United States and near-shore centers in the U.
The company has ,  employees globally, of which over , are in India across 10 locations with a plurality in Chennai. Cognizant is organized into several verticals and horizontal units. The horizontals focus on specific technologies or process areas such as Analytics, mobile computing, BPO and Testing.
Both horizontal and vertical units have business consultants , who together form the organization-wide Cognizant Consulting team. Cognizant is among the largest recruiters of MBAs in the industry; they are involved in business development and business analysis for IT services projects. Cognizant's philanthropic and corporate social responsibility CSR initiatives are conducted through the Cognizant employees for the financial and administrative support of the Cognizant Foundation.
Cognizant has a grassroots corporate social responsibility project called Outreach , through which the volunteer employees lend their expertise for devising skill-building and workforce programs to improve the operations of NGOs. In , the Fortune named it as the world's fourth most admired IT services company. Over the year , Cognizant signed multiple sponsorship agreements with sports, sailing and racing teams. Later in the year, in April, Cognizant signed an agreement to be SailGP's digital transformation partner.
In March , significant publicity was raised because Cognizant repetitively violated the directives of the Registrar of Companies. The Company "has moved [sic] the Madras High Court fearing possibility of criminal prosecution being launched against it by [the] Registrar of Companies for alleged violation of the provisions of the Companies Act of and the Companies Appointment and Disqualification of Directors Rules of In a race discrimination suit was brought: "Three hundred former employees claim they were forced out of their jobs and replaced with 'less qualified' Indians after being poorly treated by their Indian supervisors and colleagues, given unjustifiably low performance ratings and denied promotions.
The number of the executives that were dismissed is unusually high and questions the ability of the company to catch up with the latest technologies. In , eight employees filed petitions with the labor department, complaining Cognizant forced them to resign as part of a performance-based review. The labor department closed the case in favor of employees and advised company management to give one more opportunity for the petitioners to prove themselves.
A Cognizant spokesman confirmed the report and said in a statement that a court has instructed the tax department not to take further action pending further hearings. The court asked the company to deposit 15 percent of the disputed tax, amounting to 4. In February the UK and Irish press expressed concerns about contractors employed by Cognizant in Dublin as part of the outsourcing contract with Google about the conditions of employment in relationship to compensation and basic employment allowances like sick leave.
In , Cognizant announced that it was cooperating with US authorities in an investigation related to the Foreign Corrupt Practices Act , and carrying out its own probe to determine whether some payments made in India breached the law. Project Atlas included components for both internal operations and client-facing services.
Cognizant leads the ranks of companies receiving H-1B visas from the United States. The company has been steadily increasing its U. In January , the company announced plans to expand its U. Joseph Petrecca, the director of the Wage and Hour Division's Northern New Jersey District Office noted that the company took immediate steps to correct the violations, saying the "level of cooperation sets a standard for others in the industry.
In , the company was the subject of a lawsuit by workers for Walt Disney World who said workers from India were brought into the United States on H-1B visas in order to replace them. Presnel of the United States District Court in Orlando dismissed the lawsuits, stating "none of the allegedly false statements put at issue in the complaint are adequate. District Court ruling for a class action lawsuit. The lawsuit claimed that Cognizant did not provide quality assurance analysts the full value of their overtime pay.
In February , an investigative report by The Verge described poor working conditions in Cognizant's Phoenix, Arizona , office. On October 30, , Cognizant announced that it would phase out a portion of its content moderation contracts in From Wikipedia, the free encyclopedia.
American multinational IT company. For the general term, see Cognizance. Traded as. Teaneck, New Jersey , U. Operating income. Net income. The Economic Times. Retrieved 28 August Economic Times. The Wall Street Journal. ISSN Retrieved 2 January Retrieved 4 June Archived from the original on 16 September Retrieved 26 August Business Standard. Retrieved 10 May Business Today. Express Computer.
Archived from the original on 30 November Retrieved 27 June James Press, The New York Times. Rediff, 16 November IST. The Hindu Business Line. Bloomberg TV India. Archived from the original on 30 June Retrieved 17 September Retrieved 15 September The Times of India.
Retrieved 29 August Retrieved 2 February Retrieved 8 December Retrieved 30 November Retrieved 3 November Retrieved 10 December News Cognizant Technology Solutions. Retrieved 17 August Retrieved 20 July Retrieved 25 March Retrieved 12 January Retrieved 11 January Retrieved 5 January Retrieved 22 October September Retrieved 24 September Retrieved 25 August Retrieved 5 May Retrieved 24 March Retrieved 5 February Retrieved 4 February Retrieved 16 October Retrieved 18 June Retrieved 5 March Finextra Research.
Retrieved 23 January Retrieved 11 December Retrieved 4 October Retrieved 18 September Retrieved 2 May Cognizant Technology Solutions : Investors. Archived from the original on 13 March Retrieved 12 March Accessed 16 Jan.
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