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Cognizant Withdraws 2020 Forecast On Coronavirus Uncertainty

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Cognizant Withdraws 2020 Forecast On Coronavirus Uncertainty

Cognizant Expertise Options Corp mentioned on Thursday it was withdrawing its forecast for the yr because of the uncertainties brought on by the coronavirus pandemic.

The corporate mentioned the outbreak more and more affected its enterprise in late March, primarily as a consequence of mission delays in India and the Philippines, the place staff shifted to work-from-home.

Cognizant mentioned decreased consumer demand, primarily within the journey and hospitality industries, additionally impacted its enterprise.

“Getting into the second quarter, Cognizant expects the pandemic to additional cut back consumer demand as its societal and financial influence causes broader disruptions throughout industries,” it mentioned in an announcement.

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