Cognizant has officially announced that the company has decided to step out of it’s Content Moderation business that has bigger names like Facebook, Google as its clients, this step down from this business means it will end up laying off more than 6,000 employees and hundreds of millions of dollars in revenue.
Cognizant’s official reason to getting out of the business is that “this subset of work is not in line with the company’s strategic vision,” which rises major questions why the company decided to close out the business. Bloomberg has cited that the various analysts says that the company has been suffering loss from a long time.
Even though the company has made $499 million in profits last quarter (with the army of thousands of employees that makes $15 an hour). Business Standard reported that the company bagged in earned between $240 million and $270 million annually from the content moderation business.
The company says that it intends to finish out their contracts that will start from March 1st and then will follow up throughout the remainder of 2020.
Facebook’s VP of scaled operations Mr. Arun Chandra told The Verge that “We respect Cognizant’s decision to exit some of its content review services for social media platforms, their content reviewers have been invaluable in keeping our platforms safe — and we’ll work with our partners during this transition to ensure there’s no impact on our ability to review content and keep people safe.”
Facebook has said that it will increase the number of moderators it has at it’s unit in Texas which is currently operated by Genpact.
Twitter says that the company “The team is on it and working through the changes to make sure we’re supporting the people doing this work while also prioritizing keeping people on Twitter safe.”
Google which uses Cognizant’s service for its operations in Poland and India hasn’t replied to the question yet.
Some of the moderators says that they are in shock with this announcement — losing their jobs, some says that it’s a relief that they were getting away from the trauma they face at these places.
Content moderation is a tough job to do and a year ago Vice published an article about how content moderation works at Facebook and we can say that this time Cognizant found that the job to moderate content is impossible.
Source: The Verge