As Cognizant implements a programme to improve cost structure amid COVID-19 and optimises its team, its headcount reduced by 10,500 in the Q2 of this year against the previous quarter.
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As of June 30, its total headcount stood at 2,81,200, from 2,91,700 employees on March 31. The voluntary attrition in CTS declined to 10.5 pc in Q2 of this year, revealed Cognizant CEO Brian Humphries in an earnings call. It continues to deploy “much more of a performance orientation in the company, which means we are now removing the under-performers on an annual basis.” He also said it was looking to hire a new MD for India who will represent its 200,000 employees in the country.
AWS hits $43bn annual run rate biz
Amazon Web Services (AWS), the Cloud arm of retail behemoth Amazon, has become a $43 bn annualised run rate business, up nearly $10 bn in run rate in the last 12 months. As per Brian Olsavsky, CFO, Amazon, the companies are realising that their on-premise infrastructure is not really flexible to go up or down. “Especially in the time of sinking demand, it’s a big fixed cost for them. So we’re seeing migration plans accelerate. They’re certainly not going to happen overnight, but we see companies moving more in that direction,” he said during the company’s earnings call.
Google Cloud reaches $3bn in Q2.
Led by infrastructure offerings and data and analytics platform, Google Cloud has hit $3 bn in sales for the second quarter, up 43 per cent year-on-year. Alphabet and Google CEO Sundar Pichai, in the H1 of 2020, said technology and innovation proved to be a significant recovery mechanism for businesses.
FB logs solid growth in Q2
Facing ad boycott over its inaction to remove hate speech, Facebook shares surged over 7 pc after the social network reported net income of $5.18 bn as revenue jumped 11 pc to $18.69 bn from $16.89 billion a year ago. “We’re glad to be able to provide small businesses the tools they need to grow and be successful online during these challenging times,” said CEO Mark Zuckerberg .
Apple revenue up 11% in June quarter
Apple has posted $59.7 bn in revenue for its fiscal 2020 Q3, an 11 pc rise from the year-ago quarter, as iPhone sales beat the estimates. Global sales constituted 60 pc of the quarter’s revenue. “Apple’s record June quarter was driven by double-digit growth in products and services and growth in each of our geographic segments,” said Apple CEO Tim Cook.