TCS shares decline nearly 2% on layoff announcement
The stock dipped 1.69% to ₹3,081.20 on the BSE. At the NSE, it went lower by 1.7% to ₹3,081.60.
India's largest IT services firm TCS is set to lay off about 2%t, or 12,261 employees, of its global workforce this year, with the majority of those impacted belonging to middle and senior grades.
As of June 30, 2025, TCS's workforce stood at 6,13,069. It increased its workforce by 5,000 in the recently concluded June quarter.
The move is part of the company's broader strategy to become a "future-ready organisation", focusing on investments in technology, AI deployment, market expansion, and workforce realignment, TCS 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 the senior grades, over the course of the year," it said.
TCS will provide appropriate benefits, outplacement, counselling, and support to the impacted employees, it added The move comes at a time when India's top IT services companies have delivered single-digit revenue growth in Q1FY26, capping off a somewhat-sobering June quarter as macroeconomic instability and geopolitical tensions weighed on global tech demand and delayed client decision-making.
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