TCS 'Economic Earthquake': 2% Workforce Shake-up
Tata Consultancy Services is laying off 2% of its global workforce, equating to 12,261 employees. This move aims to realign resources and pivot towards future organizational goals amidst geopolitical tensions and tech demand fluctuations. Congress leader Jairam Ramesh terms it an 'economic earthquake'.
- Country:
- India
Tata Consultancy Services, India's largest IT services firm, is set to dismiss 2% of its global workforce, amounting to 12,261 employees, primarily from middle and senior management. The decision has been described by Congress leader Jairam Ramesh as an 'economic earthquake'.
The firm stated that this move is part of its long-term strategy to become a future-ready organization, emphasizing investments in technology, artificial intelligence deployment, market expansion, and workforce realignment. TCS is focusing on reskilling and redeployment initiatives to adapt to evolving market demands.
Although TCS recorded single-digit revenue growth in the recent quarter due to macroeconomic instability and geopolitical tensions affecting global tech demand, the company insists this strategic adjustment will better position it for future challenges and opportunities.
(With inputs from agencies.)
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