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Economic Times
2 hours ago
- Economic Times
Alia Bhatt's father, Mahesh Bhatt, gushes about his 'self-made girl': 'Unlike her husband Ranbir, she's ...'
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Time of India
3 hours ago
- Time of India
TCS layoffs: IT companies face stock slump as shares fall up to 3%; Infosys, Wipro, HCL under fire
NEW DELHI: Shares of major IT companies dropped sharply on Monday after Tata Consultancy Services (TCS) announced plans to reduce its global workforce by 2 percent, cutting around 12,000 jobs. The move was driven by weak discretionary spending and economic concerns, which rattled the market. The cuts also pulled the Nifty IT index 1.6 percent lower, according to ET. TCS shares slipped 1.7 percent to Rs 3,081.60 following the announcement. The company said the job cuts were not linked to AI-driven efficiencies, but part of a structural shift in its business. 'The deployment of some associates may no longer be feasible under current market conditions,' TCS said. Furthermore, the company added that it could no longer reassign employees whose skills did not match changing client demands. Other IT stocks also took a hit. Wipro fell the most, losing 3.5 per cent to close at Rs 250.05, followed by Infosys, which declined 2.2 per cent to Rs 1,482.50. HCL Technologies ended the day down 1.1 percent, while Tech Mahindra slipped nearly 1 per cent. The Nifty IT index is currently trading 24 per cent below its recent high of 46,088.90 with sustained pressure on the sector. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Kuningan Barat: Unsold Sofas Prices May Surprise You (Prices May Surprise You) Sofas | Search Ads Search Now Undo 'The sharp cut in the IT index has been dragging the market down, and there is no respite in this in view of the 2% cut in its global workforce announced by TCS. However, midcap IT names hold promise in view of their strong growth prospects,' said Dr VK Vijayakumar, chief investment Strategist at Geojit Investments. A report by ET revealed that the top six IT firms hired just 3,847 people in the April to June quarter, a 72 per cent drop from 13,935 in the previous quarter. TCS says layoffs, transition being handled with care TCS employed 613,069 people globally as of June 2025. The company said the layoffs would mainly impact employees in middle and senior roles. T he company assured that the transition was being handled carefully to maintain client services and that those affected would receive full notice-period compensation, severance packages, insurance extensions, outplacement help, counselling, and transition support. The layoffs come amid growing debate over TCS's newly updated 'bench policy." The policy has also drawn legal complaints. Under the revised policy, unassigned employees have just 35 days to find a project before facing performance actions, and must clock at least 225 billable days annually. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
4 hours ago
- Time of India
MBA in demand! IIMs, ISB see big rise in applications from mid-career professionals - here's why
(Ai-generated image) NEW DELHI: MBA programmes are becoming a go-to option for mid-career professionals with top business schools seeing a sharp increase in application from people aiming for leadership positions in a changing corporate world. The trend is being driven by the need to stay competitive as emerging technologies disrupt traditional business models. According to ET, Indian Institutes of Management (IIMs) and the Indian School of Business (ISB) have reported a steady rise in interest, with more professionals now looking to gain strategic skills and broader business perspectives. A noticeable increase in female applicants has also been recorded. What institutes saw changes? IIM Ahmedabad Applications for the one-year full-time MBA for executives (MBA-PGPX) have gone up by 10 to 15 per cent each year over the past couple of years. 'The number of women enrolled increased by nearly 45 per cent in the same period,' Amit Karna, the institute's chairperson for the MBA-PGPX programme, was quoted as saying to ET. Many candidates from IT, fintech, and engineering backgrounds have successfully transitioned into strategic and product-oriented roles post-graduation, Karna added. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas in Dubai | Search Ads Get Info Undo IIM Lucknow IIM Lucknow reported a rise in female applicants. 'The participants come from various domains with an average age of 34 to 36 years and an average work experience of 12 to 14 years,' said Himanshu Rai, director of IIM Indore. The institute also reported greater industry diversity, with professionals from healthcare, IT, and entrepreneurship joining alongside those from manufacturing and finance. The institute said 93 per cent of its IPMX Class of 2025 received job offers, with the highest annual package reaching Rs 53 lakh. IIM Indore At IIM Indore, the number of applications has also grown. 'The participants come from various domains with an average age of 34 to 36 years and an average work experience of 12 to 14 years,' said Himanshu Rai, director of IIM Indore. IIM Shillong IIM Shillong has seen a steady rise in its executive MBA programme, known as the Post Graduate Programme for Executives (PGPEx). Enrolments increased from 49 in 2023 to 55 in 2025, and the number of female students almost doubled from eight to 15, according to director in-charge Nalini Prabha Tripathi. 'In 2023 and 2024, we had more executives from traditional corporate profiles like banking, consulting, engineering. In 2025, it is more of entrepreneurial, cross-functional and digitally fluent professionals,' said Rohit Joshi, dean of academics at Shillong. ISB ISB's PGP MAX, a 15-month executive MBA equivalent, continues to attract candidates from sectors like ITeS, professional services, R&D, banking, energy, government, and defence. The programme includes 24 courses across eight cross-functional themes and offers executive coaching. 'Notably, candidates from IT, fintech, and engineering backgrounds have successfully pivoted into strategic and product-oriented roles upon completion of the programme,' said Karna of IIM Ahmedabad. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
