The Hindu Business Line : Cognizant to add 5,000 employees globally

COGNIZANT Technology Solutions will end the calendar year 2004 with an addition of about 5,000 employees globally - a majority of them in India - taking the total employee strength to about 14,000. This is an increase from the original expectation of over 13,000 for the year, said Mr Lakshmi Narayanan, CEO and President, Cognizant. The US-based firm that is listed on the Nasdaq has a significant offshore presence in India.

Mr R. Chandrasekhar, Managing Director and Executive Vice-President, Cognizant, told newspersons here on Monday that the company recently started its focus on "new tech" vertical, which includes Web-based technology companies like eBay. Cognizant will provide its solutions and services to these companies.

The revenue opportunity in the sector for Cognizant is fairly large, he said, without giving any numbers.

In an earnings call with US-based analysts, Mr Narayanan said that the revised headcount addition guidance was based on the company's full year revenue expectation that was raised for the second time during this calendar year to at least $565 million for 2004.

At the end of first quarter ended March 31, Cognizant raised its revenue guidance from $520 million to $530 million for calendar 2004, he said.

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