Indian IT companies are inserting non-compete clauses into freshers’ contracts, but legal experts have deemed them unenforceable in the country. These clauses are used as a deterrent and typically do not go beyond serving a legal notice.
Cognizant has revised its revenue forecast for the fiscal year, expecting a decline of 0.7% to flat growth. The company cites recent discretionary spending pressure as the reason for the adjustment. Cognizant also updates its adjusted operating margin guidance to approximately 14.7%. CEO Ravi Kumar emphasizes the period of change and uncertainty businesses are currently facing. Despite these challenges, Cognizant reports strong bookings and cost efficiency initiatives.
Software major Cognizant has promoted two senior executives and split the global growth markets (GGM) leadership role following the exit of president Rob Walker last month. Manoj Mehta is now head of Europe, Middle East, Africa (EMEA) and Jane Livesey becomes head of Asia Pacific and Japan (APJ). The appointments aim to accelerate Cognizant’s revenue growth in markets outside of the Americas.
