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Steady1 stories1 sourcesLast updated: 4/30/2026

Related Topicscognizant it services earnings ai transformation workforce restructuring astreya acquisition layoffs nasdaq

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Cognizant Q1 2026 Profit Flat at $662M, Announces Workforce Restructuring Project Leap

4/30/2026AI summary

Cognizant Q1 2026 Profit Flat at $662M, Announces Workforce Restructuring Project Leap

Cognizant reported a 0.1% decline in Q1 2026 net profit to $662 million amid tepid demand, while revenue grew 5.8% YoY to $5.4 billion, beating forecasts. The company announced Project Leap, a workforce restructuring initiative to integrate AI efficiencies, with severance costs estimated at $230-320 million. Cognizant is acquiring US-based Astreya for $600 million and plans to hire over 20,000 freshers in 2026.