Cognizant trims restructuring cost estimate as headcount rises

Cognizant has cut the estimated cost of Project Leap, a restructuring programme that includes employee severance, to $180-250 million from $230-320 million. Its headcount still rose by 10,100 year-on-year to 359,900 as of September 30. The company booked $51 million in Project Leap charges in the third quarter, and says over half its code is now AI-assisted.