Cognizant Anticipates $50-70 Million Loss Following Ransomware Attack

This figure does not include any reputational damage, nor do we know what (if anything) is covered by insurance…:

[…] “While we anticipate that the revenue impact related to this issue will be largely resolved by the middle of the quarter, we do anticipate the revenue and corresponding margin impact to be in the range of $50 million to $70 million for the quarter,” said Karen McLoughlin, Cognizant Chief Financial Officer in an earnings call. The incident, said McLoughlin, will incur additional and unforeseen legal, consulting, and other costs associated with the investigation, service restoration, and remediation of the breach.


Original article here