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IT giant Cognizant scraps its 2020 growth plans taking the Covid hit

IT giant Cognizant scrapped its growth forecast for 2020 which it planned in February, given the uncertainty in the trade environment amid the coronavirus outbreak.

“The long-term fundamentals of our business remain strong. However, given the unprecedented nature of this crisis, uncertainty around its duration and its impact on our ability to forecast performance, the company is withdrawing its 2020 guidance that was provided on February 5, 2020,” Cognizant said in a statement.

The US-based company has over two lakh employees in India.

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