Cognizant head count reduction slow down ????

[Mike Campbell]

Associated Press Business News: : US:CTSH - MSN Money

Prudential Equity Group analyst Bryan C. Keane said Cognizant now expects fiscal 2007 headcount growth of 42 percent, from previous expectations of 44 percent, while aiming to boost utilization rates.

"This 1,000 employee reduction in target headcount, versus guidance provided at the end of fiscal 2006, will likely cause investors to wonder if management anticipates slowing demand," Keane wrote in a client note.

Does the head count reduction really mean a possible slow down or is CTSH being as efficient with there employees as there are with everything else.