Shares of Tata Consultancy Services (TCS) declined by nearly 2 per cent on Monday after the company announced that it would lay off about 12,000 employees of its global workforce this year.
The stock dipped 1.76 per cent to settle at Rs 3,079.05 on the Bombay Stock Exchange (BSE). During the day, it dropped 2 per cent to Rs 3,070. On the NSE, the blue-chip stock went lower by 1.59 per cent to Rs 3,085.80.
TCS has decided to lay off about 2 per cent, or 12,261 employees, of its global workforce this year with the majority of those impacted belonging to middle and senior grades. The company had increased its workforce by 5,000 in the recently concluded June quarter. The decision is part of TCS’ broader strategy to become a "future-ready organisation”, focusing on investments in technology, AI deployment, market expansion and workforce realignment, the company said in a statement.
“Towards this, a number of reskilling and redeployment initiatives have been underway. As part of this journey, we will also be releasing associates from the organisation whose deployment may not be feasible. This will impact about 2 per cent of our global workforce, primarily in the middle and senior grades, over the course of the year,” it said, adding that it would provide appropriate benefits, outplacement, counselling and support to the impacted employees.
The move comes at a time when India's top IT services companies have delivered single-digit revenue growth in Q1FY26.
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