Cognizant is planning to cut around 4,000 jobs, roughly 1% of its global workforce, Livemint reported. This comes after Cognizant announced Project Leap, a new AI-led delivery and transformation programme, under which it expects to spend $270 million (₹2,500 crore) in severance and restructuring costs. The company's total headcount stood at 3.5 lakh at the end of March this year.