TCS Layoffs
TCS signs €550 million deal with Scandinavian non-life insurer Tryg
The deal will see TCS simplifying and standardising Tryg’s operations in its three major markets — Denmark, Sweden, and Norway — and driving technological transformation over seven years.
TCS layoffs protest: IT employees’ union claims 30,000 job cuts, plans global action; Company issues statement
The Union of IT & ITES Employees (UNITE) protested against TCS, alleging potential job cuts affecting 30,000 employees, a claim TCS denies, stating the reduction is around 2% of its global workforce. Supported by CITU, UNITE demands government intervention and warns of a larger layoff scale, while TCS emphasizes restructuring for future readiness with severance packages.
Uncertainty hits IT, hiring demand falls 10% in August
Hiring at India's IT services companies has slowed since the start of the second quarter and the trend is likely to continue, according to staffing firms. In the current quarter that ends on September 30, there has so far been a 2-3% decline in demand for legacy tech jobs, but hiring has been strong for specialised roles involving artificial intelligence (AI), machine learning (ML), cloud, data and cybersecurity.
TCS shares in focus as IT major sets up new AI transformation unit
Tata Consultancy Services (TCS) has formed a dedicated artificial intelligence (AI) and services transformation unit, consolidating its AI capabilities to deliver domain-specific solutions and accelerate innovation across industries. Amit Kapur, who previously headed TCS’s UK and Ireland business, will lead the unit from September. The move underscores TCS’s push to place AI at the core of its growth strategy.
TCS finally rolls out annual salary increments; average hike at 4.5-7%
TCS has rolled out delayed salary hikes of 4.5–7% for junior to mid-level staff, effective from September 1, 2025, with top performers getting over 10%. It is understood to be the lowest hike in the last four years given the slowing business environment’s impact on the IT industry and TCS financials.
TCS names Amit Kapur as head of newly-formed AI unit, company memo shows
Indian IT firm Tata Consultancy Services has named Amit Kapur as the head of its newly-formed AI and services transformation unit, a company memo seen by Reuters showed on Tuesday.
As firms pivot, AI-led layoffs here to stay
Global layoffs in tech are accelerating as companies realign workforces for the AI era. In India, firms like TCS and Oracle are trimming jobs, with middle management and entry-level coding roles most vulnerable. Experts predict major restructuring by 2026, shifting demand from bulk hiring to specialised AI and data skills.
Urban Company, Boat IPOs; India's first semiconductor chip
Urban Company, Boat get IPO nods, this and more in today's ETtech Top 5
HCLTech uses AI to enhance jobs, not cut them: Chairperson Roshni Nadar
At HCLTech’s AGM, chairperson Roshni Nadar Malhotra assured shareholders that AI will transform, not replace, jobs. Emphasising reskilling, the company plans to hire more for AI roles and build a high-paid elite workforce. This comes amid sector-wide hiring slowdown and contrasts with the recent large-scale layoffs at rival firm TCS.
ETtech Explainer: How 50% US tariff could impact India’s tech ecosystem
The Indian IT sector, though not directly targeted by the US tariffs, could be hit by reduced tech spending from US clients facing cost pressures. With slow revenue growth, rising layoffs, and client hesitation, the sector faces growing uncertainty. Traditional outsourcing roles are particularly vulnerable amid automation and economic strain.
Crypto futures overtake spot deal; Eternal's tax woes
Indian crypto traders are shifting to futures trading for higher leverage and tax benefits. This and more in today’s ETtech Top 5.
'I feel fearful': Why a 28-year-old techie is sending a distress call despite earning ₹2 lakh a month
Amidst IT sector layoff anxieties, a 28-year-old techie earning ₹1.9 lakh seeks financial advice due to debts and family responsibilities. Burdened by home, car, and gold loans, along with supporting his parents, he fears losing his gold. Social media users are advising him to sell assets, halt investments, and prioritize debt repayment to alleviate his financial strain.
'Saying AI will replace developers is like saying calculator will replace CAs': Techie's post goes viral, others say learn prompt engineering
A data engineer's viral Reddit post challenges the notion that AI will replace developers, comparing it to calculators replacing chartered accountants. The engineer argues AI will first impact unskilled roles, citing limitations in current AI tools' ability to understand client-specific environments. Amidst tech industry layoffs, experts advise adapting to evolving job market demands as traditional roles diminish.
RBI’s AI reset; ETSA ‘Startup of the Year’ nominees
The central bank’s new AI framework will send banks back to the drawing board. This and more in today’s ETtech Top 5.
Cognizant announces salary hikes amid uncertainty in IT industry
Cognizant announced merit-based pay hikes for 80% of eligible staff from November, following similar moves by TCS and Infosys amid industry uncertainty. While salary revisions offer relief, TCS is also laying off 12,000 employees. The IT sector remains cautious, with reduced hiring and concerns over large-scale job cuts persisting.
Rs 5.6 lakh crore shock! Tata crown jewel hits worst patch since 2008 crisis. Time to panic or buy the fear?
TCS faces its steepest decline since 2008, losing ₹5.6 lakh crore in market value as FIIs exit IT stocks amid weak demand and AI disruption. While Nifty IT plunges 25% in 2025, mutual funds raise stakes, seeing value in TCS’s reset valuations and strong dividend yield.
Tariffs and geopolitics may drive down global tech spending growth
Global technology spending is projected to fall short of $6 trillion due to tariffs and trade uncertainties, impacting IT business growth in 2025. Forecasts have been successively slashed by leading firms, with even optimistic predictions hinting at a maximum 7% budget increase. This slowdown poses challenges for India's outsourcing industry, though AI and cloud demand offer some resilience.
TCS layoffs herald AI shakeup of $283 billion outsourcing sector
While TCS pegged the move to shed 2% of its workforce to skill mismatches rather than AI-related productivity gains, experts viewed the largest-ever layoffs by India's top private employer as the beginning of things to come in the labour-intensive sector. Roughly 12,200 TCS middle and senior management jobs will be lost. The industry, which has played a crucial role in creating a middle class in India, is increasingly seeing AI being used for everything from basic coding to manual testing and customer support.
TCS layoffs: No employee has complained, IT firm tells Karnataka labour authority
Representatives of the TCS management met the unions and Karnataka’s labour department officials to deliberate on the notice from the labour authorities on complaints made by the Karnataka State IT/ITeS Employees Union (KITU).
TCS layoffs: IT major to raise pay for 80% of staff while cutting 12,000 jobs
The hike comes after TCS had paused its April salary increment cycle, citing macroeconomic uncertainties and weak demand from major markets. Lakkad had said back then that a decision on this front will be made some time during the year. While announcing the April-June quarter results, the company had maintained that it had not taken a call on salary increments yet.
Is your job at risk?
India's job market faces uncertainty due to global economic shifts, AI advancements, and strategic restructuring, leading to layoffs in IT, manufacturing, and related sectors. While some jobs are on a decline, tech and AI roles are growing rapidly. Experts advise constant upskilling, networking, and diversifying income to navigate this transformation, emphasizing that reinvention and adaptability are key to securing future employment amidst evolving industries.
India remains one of LinkedIn’s most energising growth stories: Feon Ang, MD, APAC, LinkedIn
LinkedIn's Feon Ang reveals AI's transformative impact on India's workforce, with leaders prioritizing AI skills. While AI reshapes roles, new opportunities emerge, demanding adaptable skills. India is making strides in gender inclusion, particularly at entry-level positions, but challenges remain in sustaining women's career advancement. LinkedIn leverages AI to personalize job searches and support members' growth.
TCS lateral hires left in limbo as onboarding delays follow mass layoff announcement
TCS is facing backlash as onboarding delays leave around 650 lateral hires in uncertainty, prompting many to reconsider their resignations. Amidst a backdrop of layoffs and a cautious hiring environment, professionals are struggling to navigate revoked offers and explore backup options. The company's silence on confirmed start dates further exacerbates the situation, leaving candidates in limbo.
TCS to roll-out wage hikes for about 80% of employees, effective September 1
The move to reward and retain talent comes at a time when TCS has decided to lay off over 12,000 employees as part of what it describes as a broader strategy to become a "future-ready organisation".
Infosys BPM schedules walk-in interview in Bengaluru for tech roles
Infosys BPM will hold walk-in interviews in Bengaluru on August 12 for technology support specialist, system engineer, and AI roles. They seek candidates with 2–3 years of experience. This follows recent hiring drives, including one for women. Infosys plans to hire about 20,000 graduates this year. This recruitment drive will support ongoing projects.
'India AI budget falls short of needs'
Stephen Ezell VP of Global Innovation Policy at ITIF tells Tanya Pandey & Subhayan Chakraborty that AI is job transformative, not destructive
FII selling crosses Rs 50,000 crore in IT stocks in 2025. Is tech dead money or just misunderstood?
FIIs have heavily sold Indian IT stocks in 2025, causing a significant downturn and making it the worst-performing sector. Disappointing earnings and layoffs have fueled the sell-off, impacting major companies like TCS. While valuations are now more attractive, analysts are cautiously optimistic, suggesting a potential tactical bounce but emphasising the need for a new technology cycle for a sustained recovery.
Tech jobs' AI reckoning; OpenAI's GPT-5 enters chat
TCS' decision to lay off 12,000 employees is a harbinger for an IT overhaul in India. This and more in today's ETtech Top 5.
TCS salary hike: Amid 12,000 layoffs, IT major announces wage hikes. Check who is getting a raise and who is being laid off
TCS Wage Hike: salary increases for 80% of employees. The hike is effective from September 1, 2025. Junior and mid-level staff will benefit. However, TCS will lay off 12,000 mid and senior-level employees this year. This strategic overhaul comes amid industry caution. Other IT firms are also evaluating wage hike timelines. TCS restructures around fresh talent amid global slowdown.
State government intervention not needed in TCS layoffs: Priyank Kharge
The government will only step in if it is demonstrated that AI upskilling incentives are in order to secure tech jobs, he said. This comes after Karnataka labour minister Santosh Lad asked the IT services company to explain the reason behind cutting nearly 12,000 jobs.
TCS skips labour ministry meet, reaffirms it will honour job offers in written reply
TCS skipped a scheduled meeting with the Chief Labour Commissioner on Friday but sent a written response via email. The company added that deferrals are a common practice in the IT industry, especially amid shifting project timelines.
Cognizant raises staff pay; Wipro, Warburg eye Harman's biz
IT major Cognizant announced pay hikes for 80% of its staff. This and more in today's ETtech Top 5.
NIIT Q1 profit dips 44 pc to Rs 4.3 cr; revenue rises 2 pc to Rs 84.1 cr
Skills and talent development firm NIIT Ltd on Friday posted a 43.6 per cent decline in consolidated net profit to Rs 4.37 crore in the April-June quarter due to headwinds from a turbulent environment in the technology and BFSI sectors.
'Is CEO's high salary fair when 12,000 are being fired': TCS layoffs spark debate over Krithivasan’s Rs 26.52 crore salary
TCS Layoffs: Tata Consultancy Services will reduce its workforce by two percent in fiscal year 2026. This decision impacts approximately 12,000 employees. The layoffs primarily affect middle and senior management. CEO K Krithivasan's salary of ₹26.52 crore has sparked debate. Social media users are questioning the fairness of the job cuts. Some defend the CEO's compensation, citing business needs.
'I have no money': TCS employee sleeps on pavement outside as salary dispute goes public; Company responds
A TCS employee in Pune, Saurabh More, was seen sleeping outside his office after claiming his salary was withheld. He said he’d returned to work but was locked out of internal systems and left without income. His handwritten note and protest sparked strong reactions online. TCS said the pay was paused due to unauthorised absence and it has since offered him accommodation while discussions continue. The protest comes amid ongoing layoffs and structural changes within the IT giant.
TCS layoffs 2025: Why India’s biggest IT co is asking 12,000 techies to leave, who’s at risk, and what severance package they will get
TCS layoffs 2025 News: Tata Consultancy Services (TCS) will lay off approximately 2% of its workforce, impacting over 12,000 employees in 2025. This decision is driven by global business uncertainties and the rapid integration of AI. TCS is providing support measures to affected employees, including severance packages and outplacement assistance, while strategically shifting towards AI deployment and new technologies.
TCS rolls out pay hikes; Paytm trims headcount in FY25
Weeks after announcing massive layoffs, TCS said it will raise salaries for 80% of its workforce. This and more in today’s ETtech Top 5.
TCS layoffs: IT employee unions voice discontent over 12,000 job cuts
TCS job cut: IT employee bodies are opposing TCS's plan to lay off 12,000 employees, deeming the retrenchment illegal. Unions urge affected employees not to resign and demand reinstatement or fair compensation. TCS attributes the layoffs to skill mismatches, not AI, and promises severance packages, benefits, and outplacement support to those impacted.
IT layoffs scaring you? Here’s how to manage finances in the event of job loss
Job losses in the IT sector are a growing concern. Tata Consultancy Services recently announced cutting 12,200 jobs. Experts advise creating a financial safety net. This includes assessing expenses and gathering resources. Cutting discretionary spending is crucial. Consider shifting to lower-cost housing. Explore gig economy opportunities for income. Upskilling is essential for IT professionals to remain competitive.
Wrench in India’s gadget exports; OpenAI’s eye on India
Happy Friday! Growth in India’s electronics exports faces tariff threats from the US, its largest trade partner. This and more in today’s ETtech Morning Dispatch.
IT layoffs cloud recovery hopes as consumption firms brace for slowdown
India's consumption-driven recovery is threatened by rising IT sector job cuts, impacting discretionary spending on apparel, electronics, and fashion. While some sectors like jewellery show resilience, consumer-facing companies express caution due to job insecurity. The upcoming festive season will be crucial in determining demand amid employment anxieties, as companies closely monitor consumer sentiment.
10 money myths that are keeping you from maximising your financial worth
Here’s how to be free of the financial cliches and time-worn notions that may prevent you from securing your financial future.
TCS layoffs: MeitY takes note; IT union pings labour minister
The union government is taking an interest in the TCS layoffs that spooked employees and investors. This and more in today's ETtech Top 5.
Top tech and startup stories this week
Welcome to a new edition of ETtech Unwrapped – our weekend newsletter packed with the most important stories this week. Let’s take a look.
TCS layoffs: Job cuts due to skill mismatch, not AI automation, says CEO K Krithivasan
TCS layoffs 2025: CEO K Krithivasan said the recently announced job cuts are due to a “skill mismatch” and not because of artificial intelligence replacing roles. He added that TCS will continue to look for high-quality talent despite the planned reduction of around 12,000 employees from its global workforce.
TCS layoffs are wake-up call for others to be ready to face disruptions, here’s how you can ace it
The question isn’t whether disruption will come, but whether you’ll be financially prepared when it does. Rather than raging against market realities, the sensible response is to build financial buffers that make those realities manageable. The question isn’t whether disruption will come, but whether you’ll be financially prepared when it does.
Tata stocks lose over Rs 8 lakh crore in 11 months. Is it time to revisit your portfolio allocations?
Tata Group's market capitalization plummeted by over Rs 8.25 lakh crore in 11 months due to global economic uncertainties and sector-specific challenges. Major stocks like TCS, Tata Motors, and Trent experienced significant declines, impacting overall group performance. While some stocks showed resilience, the substantial value erosion prompts investors to reassess their portfolio allocations.
TCS to lay off 12,000 employees: What we know so far about the mass cull
Tata Consultancy Services is set to lay off approximately 12,000 employees, representing 2% of its global workforce, over the next three quarters of FY26. This decision follows concerns about salary hikes and a new benching policy. Here's what we know so far about the first massive job cut by an Indian company this year.
Summoned TCS for consultation on layoffs: Karnataka minister Santosh Lad
The minister said that the department called TCS officials just to have consultation to know the reason for recent layoffs. Additionally, he said sunrise industries have been exempted from labour laws but there are conditions attached.
Explained: Why TCS firing 12,000 employees may be a canary in the mine and what it means for investors
TCS's decision to lay off 12,000 employees due to macro uncertainties and AI disruptions has triggered investor concerns, contrasting sharply with Meta's layoff experience. This move reflects a weak demand environment and potential execution risks for the IT sector. Analysts warn of margin pressures and rising attrition, signaling a structural shift in India's IT services industry.
'Don't wait': Moonlighter Soham Parekh tells techies how to outsmart the system as TCS cuts 12,000 jobs
Soham Parekh, the Indian software engineer who went viral for moonlighting across multiple startups, has responded to Tata Consultancy Services’ (TCS) decision to lay off 12,000 employees globally. As the Indian IT sector reacts to one of the biggest workforce reductions in recent history, Parekh urged tech workers not to rely on handouts and to sharpen their skills. TCS said the cuts are part of its restructuring to prepare for future demands shaped by artificial intelligence.
TCS to freeze senior hiring, pause annual salary hikes
Onboarding delays for those with experience who have been hired exceeds 65 days, according to the people cited. The Tata Group unit has already started phasing out hundreds of benched staff in Hyderabad, Pune, Chennai and Kolkata, in line with its new policy that mandates such employees to find projects in 35 days or leave. TCS did not comment on the development.
Techie shares 5 resume tips that helped her get job offers from Microsoft, Amazon and 2 other tech companies
Ritvika Nagula, now a senior software engineer at Microsoft, shared with Business Insider the five resume strategies that helped her land job offers from top tech companies including Microsoft, Amazon, and eBay. Her approach focused on prioritizing relevant experience, showcasing personal projects, using GitHub as a portfolio, combining cold applications with networking, and maintaining strong foundational coding skills.
Karnataka IT/ITeS Employees Union seeks action against TCS over job cuts
TCS last Sunday announced that it would cut 2% of the workforce this fiscal year, affecting more than 12,000 of its mid- and senior-level employees. The union said it has received several complaints from TCS employees stating that the management was forcing them to resign.
Troubles deepen at TCS; Honasa’s beauty-tech plan
Happy Tuesday! After announcing over 12,000 layoffs, TCS now plans to pause senior hiring and annual appraisals. This and more in today’s ETtech Morning Dispatch.
HR firms log an uptick in TCS staffers hunting for job
Executives at companies like Transearch, CIEL HR and Michael Page reveal that they have been getting queries even before Sunday's announcement, as many were expecting an imminent job cut. TCS said it would lay off 2% of its workforce, or more than 12,000 employees, in the middle and senior levels in fiscal 2026.
Big Tech continues to hire in India even as local majors downsize
Despite global layoffs, FAAMNG companies are expanding their India headcount, growing by 16% in the past year, driven by demand for AI, cloud, and cybersecurity skills. While Indian IT firms face workforce reductions due to skills mismatch, Big Tech's India-based global capability centers are increasing hiring for high-end work and innovation.
TCS shares slip nearly 2% after company announces over 12,000 layoffs
TCS share price: Tata Consultancy Services shares faced a dip. This followed the announcement of a workforce reduction. The company plans to lay off approximately 2% of its global employees. This decision comes amid economic uncertainty. It also reflects disruptions from artificial intelligence. The IT sector shows signs of a slowdown. TCS reaffirms its commitment to strategic initiatives.
IT grappling with cost pressures as pricing shifts from effort to outcomes
With generative AI and Agentic AI boosting productivity by 20-40%, leading to swifter outcomes at lower costs, clients are asking why they are still paying the same per full-time equivalent (FTE).
TCS layoffs: Techies seek stay on 12,000 job cuts in letter to labour minister
Calling the retrenchment illegal, IT employees' body Nascent Information Technology Employees Senate (NITES) sought directions issued to TCS to "halt all terminations and reinstate affected employees" in a letter to Union labour minister Mansukh Mandaviya.
TCS is slashing 12,000 jobs in India’s biggest IT layoff; will others follow?
TCS layoffs: The move comes amid growing macroeconomic uncertainty and increasing AI-led disruptions impacting technology demand. It remains to be seen if other companies follow the leader. So far this fiscal year, no other Indian IT company has announced layoffs on this scale.
‘Kitne aadmi the’: CP Gurnani explains why TCS layoffs are a sign that the ‘Sholay era’ of IT companies is over
TCS's recent layoffs signal a shift in the Indian IT sector towards outcome-based models, as highlighted by CP Gurnani. While some jobs may be cut due to AI, new roles are emerging, requiring specialized skills. The industry faces concerns over employee well-being amid stricter bench policies and a slowdown in overall hiring.
Infosys to hire 20,000 freshers amid IT job loss fears
Infosys CEO Salil Parekh has assured no job cuts, confirming plans to hire approximately 20,000 graduates this year. Strategic investments in AI and reskilling initiatives have enabled the company to maintain a competitive edge. While AI enhances automation and insights, it necessitates advanced skills.
TCS layoffs: IT major to mass fire 12,000 senior, mid-level staffers amid AI push
TCS job cuts: Tata Consultancy Services (TCS) plans to lay off approximately 2% of its workforce, impacting over 12,000 employees, due to macro uncertainties and AI-driven disruptions. The company will provide severance packages, outplacement services, and extended benefits to affected employees. This decision follows a decline in job additions across major IT firms and strategic initiatives by TCS to realign its workforce.
Capgemini India to hire up to 45,000 in 2025; focus on AI-ready workforce
Chief executive officer Ashwin Yardi said that as the IT services major’s clients look to cut costs and improve efficiency, India becomes an increasingly attractive delivery base. This demand is expected to contribute positively to the company’s overall revenue, he added.
‘Get ready for early retirement’: Amid TCS layoffs, HR executive warns why your resume may be ignored after this age
A veteran HR executive, Shipra Madaan, reveals the challenges professionals face in securing employment after 50, highlighting ageism in hiring practices. She emphasizes that despite qualifications, older candidates are often overlooked, leading to early retirement. Madaan advises professionals to proactively build strong networks and maintain visibility to combat this trend and remain relevant in the evolving job market.
Indian IT sector not directly hit by US tariffs, yet ripple effects could be substantial: EY India
Companies that pivot to hybrid delivery models, diversify geographically, and embed AI at scale will be better positioned, not just to weather demand volatility, but to lead in an increasingly fragmented and uncertain global landscape, Nitin Bhatt, technology sector leader at EY India pointed out.
No layoffs at Infosys: India's second-largest IT company plans to hire more amid buzz over TCS job cuts
TCS’s decision to lay off over 12,000 staff has sent ripples through India’s IT sector, raising fears of wider job losses. Infosys, however, has ruled out layoffs for now, sticking to its goal of hiring 20,000 graduates while investing heavily in AI training. CEO Salil Parekh highlighted the company's long-term focus on reskilling and adaptability as key to navigating global headwinds. As the industry shifts, Indian IT giants are recalibrating growth strategies to balance talent, automation, and evolving client demands.
TCS layoffs: A job scare is pulsing through India
TCS is set to lay off around 2% of its workforce due to skill mismatches and AI-led disruptions, highlighting India's broader jobs challenge. While AI raises job anxiety, a significant AI talent gap exists, hindering industry growth. Addressing this requires upskilling initiatives to enhance graduate employability and meet the rising demand for AI professionals.
Infosys, Wipro, other IT stocks fall up to 3% as TCS job cuts deepen concerns over sector slowdown
TCS shares fell 1.7% to Rs 3,081.60 after the company announced it could no longer redeploy employees whose skills no longer align with its shifting business requirements.
Ather narrows Q1 losses; VinFast to make in India
Electric scooter maker Ather clocked a 79% jump in revenue for the April-June quarter. This and more in today’s ETtech Top 5.
TCS slumps 33% from peak. Is the correction an opportunity in disguise?
TCS shares: TCS posted a net profit of ₹12,760 crore for Q1FY26, marking a 6% year-on-year increase and surpassing market expectations. Revenue grew by 1.3% YoY to ₹63,437 crore; however, revenue in constant currency terms fell by 3.1%, primarily due to a significant scale-down of the BSNL contract.
Retailers, restaurants in tech hubs fear festive slump amid TCS, IT layoffs
Tata Consultancy Services' layoff announcement has sparked concerns among pubs, restaurants, and retailers, particularly in IT hubs like Bengaluru and Hyderabad. Delayed salary hikes and a poor business outlook have already led to reduced consumer spending by IT professionals. The real estate sector remains cautiously optimistic, anticipating a short-lived impact with demand potentially shifting towards non-IT sectors.
TCS axes 12,000 jobs; Ola loses steam in EV race
Happy Monday! India’s largest software exporter is trimming 2% of its workforce as demand woes persist. This and more in today’s ETtech Morning Dispatch.
TCS layoffs: IT Ministry keeping close watch on situation
Employment growth remains a key priority, with sharp focus on how initiatives like Employment Linked Incentive can help boost job creation, they asserted. At the same time, the emphasis is on skilling and reskilling.
How will TCS layoffs affect India's real estate sector?
Indian real estate stocks plunged following layoffs at TCS, raising concerns about decreased housing demand from IT professionals, particularly in Bengaluru. Analysts predict a potential ripple effect across major metro cities, with the Nifty Realty Index already significantly corrected. Despite concerns, some analysts remain optimistic, citing attractive valuations and potential benefits from recent interest rate cuts.
AI & jobs: Is your boss hiding something from you?
Amidst tech sector anxieties following TCS layoffs, experts and industry leaders are divided on AI's impact. While some, like Geoffrey Hinton, warn of downplayed risks and potential job displacement, others emphasize AI's role in augmenting tasks and creating new opportunities.
TCS layoffs are a reminder that AI has crashed the tech party, and redirected the paychecks
Tata Consultancy Services plans layoffs as AI transforms work. Roles needing AI skills see higher pay. Microsoft also cuts jobs while investing in AI. Demand for AI skills grows outside tech, especially in marketing and HR. Lightcast offers tools to help companies adapt. Workers combining AI with other skills earn more.
AI, enterprise demand underpin high staff deployment at Infosys: CEO Salil Parekh
As the sector faces an AI-led employee shift, Infosys is betting on skills over job cuts. CEO Salil Parekh said the company is experiencing strong demand from clients in areas where it has strong skills. He reiterated the company’s target of hiring 20,000 freshers during FY26, which was set at the end of the previous fiscal year.
Trent, TCS shares worst Nifty performers in 2025. Why 2 Tata stocks are down at least 25% this year
Trent’s sharp growth slowdown has prompted analyst downgrades. Nuvama cut the stock to ‘Hold’ and slashed its FY26/27 estimates and target price. HSBC trimmed its target too, citing a weaker-than-expected Q1. With both Trent and TCS under pressure, the Tata Group is facing rare underperformance, highlighting how even blue-chip names are vulnerable to shifting market dynamics.
Muted Q1 earnings point to weakening micro: Is the easy money phase over?
At the halfway mark of the earnings season, results from BSE 500 firms show a weak trend. Key sectors like banking and IT report rising stress and slowing growth. Despite robust monsoon hopes and government capex plans, economic recovery appears uneven, urging investors to shift focus to stock-specific opportunities.
Tech industry at an inflection point, workforce rationalisation expected in near term: Nasscom
Tata Consultancy Services (TCS) has said it will lay off more than 12,000 employees, or 2 per cent of its global workforce, this year, as part of a broader strategy to become a "future-ready organisation". The impact will be felt most in the middle and senior grades.
Lenskart's Rs 8,000 crore IPO; Layoff clouds over IT
Lenskart has filed its draft papers for an Rs 8,000 crore public offering. This and more in today's ETtech Top 5.
School Assembly Headlines for August 1: Top national, international, sports and business updates
Today's headlines cover a range of significant events, from the upcoming release of the PM-Kisan Samman Nidhi installment and successful DRDO missile tests to trade tensions with the U.S. and a new head coach for the Indian football team. Microsoft is poised to reach a $4 trillion market cap, while Infosys plans to hire 20,000 freshers amidst IT sector restructuring.
India’s top realty developers now worth Rs 16 lakh crore, surpass Kuwait’s GDP
The combined value of India's leading real estate companies has increased. It now exceeds the GDP of some countries. A recent study shows a 14% annual growth in valuation. Mumbai leads in real estate companies. DLF remains India's most valuable real estate company. The sector experiences renewed investor confidence. Hospitality and co-working spaces are also growing.
Sensex ends 572 pts lower, Nifty below 24,700. Here are 5 reasons why the Indian stock market fell
Indian equities plummeted on Monday, with the Sensex and Nifty facing significant losses due to disappointing earnings, stalled India-U.S. trade talks, IT sector layoffs, and persistent foreign investor outflows. Kotak Mahindra Bank's poor results and TCS's workforce reduction further dampened market sentiment.
Rapid GCC growth reshapes India's outsourcing industry
MNCs, which are setting up these GCCs or expanding existing facilities, are also the top spenders of tech for the $280-billion listed Indian pureplay. The increasing insourcing of core tech tasks – especially the top end, high-value work - may be leading to one of reasons for the current rot in the outsourcing industry, marked by a protracted slowdown and now mass-layoffs.
Infosys allays layoff fears; Freshworks cuts losses
Infosys confirmed plans to hire thousands, even as the IT sector stares at a spate of layoffs. This and more in today's ETtech Top 5.
Delhivery delivers in Q1; Google open to ‘real money’
Delhivery posted a 68.5% rise in net profit in the April-June quarter on the back of operational efficiency. This and more in today's ETtech Top 5.
Heizen raises $500K from Titan Capital to disrupt legacy IT services
Founded in April 2024, Heizen aims to revolutionize India's IT services by utilizing AI agents and small, agile teams. The funding will fuel expansion in the U.S., enhance AI capabilities, and grow their engineering team.
Not just TCS: Q1 results destroy midcap IT's last standing heroes
Midcap IT companies are facing a downturn, mirroring the struggles of their largecap counterparts. Q1 earnings revealed topline misses and cash flow issues, exacerbated by cautious client spending and project delays. While some analysts remain optimistic, concerns persist about valuations and the lack of a clear earnings upgrade cycle, leading to a mixed outlook for the sector.
Can Indian economy thrive amidst market slowdowns and tech layoffs? A Balasubramanian answers
A Balasubramanian of ABSL AMC indicates Indian markets are stable due to good interest rates and agriculture. The festival season is expected to boost the rural economy. Government spending drives cement and steel sales. While trade deals offer benefits, tech disruptions cause caution. Lending growth is slow. Banking is performing well.
Specialised hiring in demand; Reliance’s spacetech bet
Happy Thursday! Tech firms are moving away from mass hiring and scouting specialised talent. This and more in today's ETtech Morning Dispatch.
Lenskart’s Rs 8,000 crore IPO; IT’s GCC threat
Happy Wednesday! Lenskart has filed its draft IPO papers for a Rs 8,000-crore public offering. This and more in today’s ETtech Morning Dispatch.
AI’s quiet takeover: Why freshers are missing in IT hiring
India's top IT firms are significantly reducing fresher hiring, with net additions plummeting from over 50,000 to under 5,000 in the June quarter. This shift reflects a growing demand for experienced professionals with specialized skills in AI, cloud, and cybersecurity.
What is TCS' new policy that's making thousands of techies at India's biggest IT firm anxious about layoffs?
TCS Bench Policy Employee Concerns: TCS' new 35-day bench policy has created widespread concern among employees, with many using online forums to highlight challenges in finding suitable projects. While some believe it is a necessary step to improve workforce efficiency, others see it as a harsh move during uncertain times. The issue has drawn the attention of employee groups and could influence broader trends in the Indian IT industry.
TCS employees on the edge as co’s new benching policy completes first cycle
Anxiety is rising at TCS as the clock ticks down on its new 35-day bench policy, introduced on June 12. The rule caps the number of days an employee can spend without an active project in a year. Missing the deadline could mean career stagnation, or worse, termination.
No layoffs at TCS: Indian IT giant to give salary hike to employees soon
TCS will not lay off its employees, but will also look to recruit impacted workers, according to Chief Human Resources Officer of TCS Milind Lakkad.
