At a time when the IT industry is facing tough times, IT major Cognizant announced a major expansion plan. The company said it will set up a 10-lakh sq ft facility in Hyderabad, creating 15,000 new jobs. The new centre can house 20,000 employees.
The centre would focus on various advanced technologies, including artificial intelligence, machine learning, digital engineering, and cloud solutions.
This announcement was made during the meeting between Cognizant’s top team and Telangana Chief Minister A Revanth Reddy in the US on Monday. The foundation for this new agreement was laid out during the Davos visit of the Chief Minister and his delegation earlier this year.
“We are excited to expand our presence in Hyderabad, a city that continues to demonstrate its strengths as a technology and innovation hub,” Ravi Kumar S, CEO of Cognizant, said.
The new centre will enable Cognizant to better serve global clients and continue to deliver cutting-edge solutions in IT services and consulting.
The Chief Minister, along with IT and Industries Minister D Sridhar Babu and top officials, urged the Telugu Diaspora to invest in Telangana. The team will depart for South Korea on August 10 for a four-day visit and will return to Hyderabad on August 14.