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Mint
an hour ago
- Mint
TCS layoff: Should TCS investors be concerned as company plans to hand pink slips to 12,000 employees? Explained
TCS layoff: A trend majorly seen in large global IT tech giants like Meta, Google and Microsoft, has spread to India too, as domestic IT bellwether Tata Consultancy Services (TCS) has announced plans to hand pink slips to almost 2% of the workforce. TCS layoff, expected to impact 12,261 employees, will largely target those belonging to middle and senior grades. In response to the news, not only just TCS share price tumbled, but its ripple effects were seen on other IT companies as well. Wipro, HCL Technologies and Infosys too felt the impact, declining up to 2% — sending the Nifty IT pack down over 1%. The IT stocks have been out of favour for some time now, given global macro uncertainty and geopolitical tensions are weighing on global tech demand and delaying client decision-making. Analysts believe that TCS layoffs signal deep organisational changes driven by artificial intelligence (AI) and slow global demand rather than a short-term cost cut. "TCS' decision to layoff ~12,200 employees, which is ~2% of its global workforce during FY26 is reflation of both cost optimisation measures and deeper industry challenges. Shifting technology demands can be also a major reason for the layoff," said Rajesh Sinha, Sr. Research Analyst at Bonanza. While TCS has insisted that the layoffs are not primarily AI-driven job cuts or immediate cost-cutting, Sinha said it is an indication that there is significant pressure to stay competitive amid tighter client budgets, demand softness and rising price pressures requiring efficiency improvements. "Growing requirement of automation and evolving client expectations are reshaping workforce structures, forcing companies like TCS to rebalance employee costs and skill sets to maintain margins and becoming "future-ready" through skill re-alignment," said Sinha. During the June quarter of the ongoing fiscal, Indian IT companies have delivered single-digit revenue growth. TCS' consolidated sales in the first quarter rose 1.3% to ₹ 63437 crore, missing analysts' average estimate of ₹ 64666 crore, according to data compiled by LSEG. TCS's revenue in four out of its six verticals fell compared to the same period last year, while banking and financial services' revenue grew 1% and tech services rose 1.8%, according to a Reuters report. Its total order bookings stood at $9.4 billion during the quarter, versus $12.2 billion in the previous quarter and $8.3 billion in the year-ago period. Meanwhile, TCS MD and Chief Executive K Krithivasan recently said the company is experiencing a "demand contraction" due to the continued uncertainties on the macroeconomic and geopolitical fronts, and added that he does not see a double-digit revenue growth in FY26. Harshal Dasani, Business Head, INVasset PMS, is not as concerned about the TCS layoff and sees it as a strategic move and less of a red flag. With a workforce of over 6 lakh, TCS has already slowed hiring considerably in the last year, reflecting shifting demand patterns in its key markets. "This move signals a broader shift in Indian IT — away from headcount-led growth toward efficiency and AI-led delivery models. Rather than signalling stress, this recalibration positions TCS to navigate a lower-growth environment while staying operationally agile," opined Dasani. Given that TCS is the trend setter for the industry, analysts believe that other IT companies could follow suit. Dasani said that performance and profitability will now take precedence over headcount growth now. "It challenges the long-standing perception that Indian IT offers unconditional job security, and it underscores that operating leverage, not just revenue growth, will define sectoral winners in this cycle. Other firms may follow suit, especially as pricing pressure and AI-led delivery transformation gather pace," he added. Sinha also believes that the TCS layoff is expected to increase fears of job insecurity not only in TCS but also across other IT companies, highlighting long-term career stability in IT industry. It also reflects industry challenges like less tolerance for bench time, strict billable day requirements, and increased automation, he opined. According to Sinha, as far as investors are concerned, this challenging sector-wide environment will create pressure on the stock price of major IT companies, including TCS, for a shorter time horizon. However, in the longer term, the implicit growth opportunity of the company will determine prospects of the company. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
India Today
an hour ago
- India Today
WhatsApp may soon let you import profile pic from Facebook and Instagram: Details inside
WhatsApp is testing a new feature for its Android users It will allow them to use their Facebook or Instagram profile photo on the messaging app The feature is currently being tested in a beta version WhatsApp is reportedly testing a new feature for Android users that will allow them to use their Facebook or Instagram profile photo on the messaging app without manually uploading it. The feature is currently being tested in a beta version and is expected to simplify the process of setting up a display picture for WhatsApp by connecting the app with other Meta platforms. As per details shared by WhatsApp feature tracker WABetaInfo, the company is testing the feature in WhatsApp beta for Android version 2.25.21.23. With this version, users can reportedly see new options in the profile settings section of the app. Alongside the usual options like camera, gallery, avatar, and Meta AI, two new sources â€' Facebook and Instagram â€' are being added for profile photos. Until now, if someone wanted to use a photo from Facebook or Instagram as their WhatsApp DP, they had to first download the image from that platform and then upload it through the phone's gallery. This new feature could eliminate that extra step and make things faster for users who maintain the same identity across all Meta-owned platforms. The feature is said to be accessible from the profile section in the settings menu. Users will be able to tap on the existing profile photo and select either Facebook or Instagram to import a new one. However, to make use of this functionality, WhatsApp users will need to link their account with Meta's Accounts Centre. This is a system Meta introduced to make it easier for people to manage their presence across Facebook, Instagram, and WhatsApp. The integration with Meta's Accounts Centre is not new. It already supports features like cross-posting stories or using a single login across multiple apps. Now, with the ability to import profile pictures, WhatsApp is moving another step closer to offering a more connected experience within Meta's ecosystem. However, it's important to note that this feature will not be turned on automatically. According to WABetaInfo, users will have the choice to link their accounts or keep them separate. The feature will be disabled by default, which means users can opt-in only if they want to. Also, despite this cross-platform syncing, WhatsApp will continue to offer the same level of privacy, including end-to-end encryption, and this change will not impact that in any way. As of now, this option is still in the development phase and has only been rolled out to select users who are part of the Google Play Beta programme. There is no confirmed timeline for when the feature will be available to the general public, but it is likely to be included in one of the upcoming updates. WhatsApp is reportedly testing a new feature for Android users that will allow them to use their Facebook or Instagram profile photo on the messaging app without manually uploading it. The feature is currently being tested in a beta version and is expected to simplify the process of setting up a display picture for WhatsApp by connecting the app with other Meta platforms. As per details shared by WhatsApp feature tracker WABetaInfo, the company is testing the feature in WhatsApp beta for Android version 2.25.21.23. With this version, users can reportedly see new options in the profile settings section of the app. Alongside the usual options like camera, gallery, avatar, and Meta AI, two new sources â€' Facebook and Instagram â€' are being added for profile photos. Until now, if someone wanted to use a photo from Facebook or Instagram as their WhatsApp DP, they had to first download the image from that platform and then upload it through the phone's gallery. This new feature could eliminate that extra step and make things faster for users who maintain the same identity across all Meta-owned platforms. The feature is said to be accessible from the profile section in the settings menu. Users will be able to tap on the existing profile photo and select either Facebook or Instagram to import a new one. However, to make use of this functionality, WhatsApp users will need to link their account with Meta's Accounts Centre. This is a system Meta introduced to make it easier for people to manage their presence across Facebook, Instagram, and WhatsApp. The integration with Meta's Accounts Centre is not new. It already supports features like cross-posting stories or using a single login across multiple apps. Now, with the ability to import profile pictures, WhatsApp is moving another step closer to offering a more connected experience within Meta's ecosystem. However, it's important to note that this feature will not be turned on automatically. According to WABetaInfo, users will have the choice to link their accounts or keep them separate. The feature will be disabled by default, which means users can opt-in only if they want to. Also, despite this cross-platform syncing, WhatsApp will continue to offer the same level of privacy, including end-to-end encryption, and this change will not impact that in any way. As of now, this option is still in the development phase and has only been rolled out to select users who are part of the Google Play Beta programme. There is no confirmed timeline for when the feature will be available to the general public, but it is likely to be included in one of the upcoming updates. Join our WhatsApp Channel
Indian Express
an hour ago
- Indian Express
Their info leaked online, Dehradun interfaith couple say marriage application on hold amid threats and pressure
After being in a relationship for over a decade, a couple from Dehradun decided to get married under the Special Marriage Act, 1954. However, on Saturday, their application was put on hold after two witnesses pulled out, citing threats from right-wing groups and objections from the woman's father, who was threatened with a boycott by his community. According to the couple, their wedding plans unravelled because the man is a Muslim and the woman a Hindu. The details of the couple — both 28 years old — along with their photographs, were uploaded online by a Facebook user, leading to a flurry of threats, abuses, and visits to the family of the woman. The woman, who works at a clinic, said her relatives and others turned up at their door on Saturday, disparaging the family for 'letting her marry' the Muslim man. 'My parents are neither happy nor upset about my decision. They respect my choice. However, after the entire system came against us, my father was forced to raise objections with the SDM (Sub-Divisional Magistrate). The page that has gone viral on social media is not the notice put up on the board of the office of the SDM, but from our file with the officer,' she said. She alleges that some lawyers who work with the man she is set to marry, as well as some government officials, 'are facilitating this hounding and delaying our second motion'. The SDM has denied allegations that the documents were leaked from his office. The man who sought to marry her works as an advocate in Dehradun, but has not gone to work since their details went up online. Threats, allegedly from the Hindu Raksha Dal, Bajrang Dal, and other outfits, have been pouring in ever since, he claimed. 'We have known each other since class 6 and attended the same college. We are exercising our fundamental rights and getting married under the Special Marriage Act. How can their law prevail over the Constitution?' he said. The woman said she fears her job is on the line after her employer came across the social media posts. 'Though I have not been terminated, the doctor called to tell me to stay put until things blow over. I'm not sure if they will lay me off if this persists,' she said. The couple had sought protection from the High Court on Friday. The division bench of Chief Justice G Narender and Justice Alok Mahra had directed the Senior Superintendent of Police (SSP) to comply with the Supreme Court verdict in the Lata Singh vs State of UP and Another (2006) case. The apex court had directed the administration and police across the country to ensure that when any man or woman, who is a major, undergoes inter-caste or inter-religious marriage with a woman or man who is also a major, the couple is not harassed by anyone nor subjected to threats or acts of violence. They were also directed to ensure that anyone who gives such threats or harasses or commits acts of violence, either himself or at his instigation, is taken to task by instituting criminal proceedings by the police against such persons, and further stern action is taken against such persons as provided by law. The woman claimed that police did not lodge an FIR on her complaint and told her they can only protect her in case of a 'real threat'. The couple's lawyer said that she has been ostracised for helping them get married. Meanwhile, SDM, Sadar, Har Giri, said that he was looking into the objections raised by the woman's family. Asked about the delay, he said, 'We have to look into the cause for the withdrawal by the witnesses. My responsibility is to enquire about the matter; threats to the couple do not figure in my responsibilities.' He denied allegations that the documents with details of the couple were leaked from his office. Earlier this year, another couple from Udham Singh Nagar faced a similar ordeal after their details were made public by right-wing outfits despite a High Court order directing protection from threats.
