TCS layoffs: IT companies face stock slump as shares fall up to 3%; Infosys, Wipro, HCL under fire
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
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
2 minutes ago
- Hans India
Tim Cook Reaffirms Apple's AI Ambitions: 'Difficult to See a World Without iPhone'
Apple CEO Tim Cook has doubled down on the company's ambitious plans in artificial intelligence, assuring investors and customers alike that Apple is fully committed to shaping the AI-powered future. Speaking during the company's Q3 2025 earnings call, Cook described AI as one of the most transformative technologies of our era, adding that Apple is investing heavily in it, both in terms of resources and staffing. 'We see AI as one of the most profound technologies of our lifetime. We are embedding it across our devices and platforms and across the company. We are also significantly growing our investments,' Cook stated. He emphasized that Apple's approach to AI remains rooted in its long-standing philosophy—making cutting-edge technologies accessible and easy to use for everyone. While rivals like Microsoft, Meta, and Google have been faster in releasing consumer-facing AI tools, Apple has faced criticism for trailing behind in the generative AI race. One such delay has been the much-hyped AI-powered Siri update, which is now postponed to 2026. Despite this, Cook defended Apple's slower pace, stating, 'Rushing out the wrong features or the wrong products just to be first would be a mistake.' Instead, Apple is taking a more measured and quality-driven path. Cook revealed that the company has reassigned more team members to work on AI projects and is fully channeling its energy into this technological pivot. 'We have a great, great team and we're putting all of our energy behind it,' he noted. Although Apple's capital expenditure this year has seen an upward trend, the company continues to rely on third-party partners for some infrastructure needs, which has tempered the increase. Cook also mentioned that Apple had completed seven strategic acquisitions in 2025, calling them modest in size but meaningful in their long-term value. 'None was huge,' he explained, 'but we are making acquisitions at the rate of one every several weeks.' More than 20 new AI-powered features have already been introduced under the 'Apple Intelligence' banner. These include enhancements like Visual Intelligence, a Writing Assistant, and a Cleanup tool. Looking ahead, Apple plans to roll out live translation and an AI workout companion before year-end. As discussions around emerging AI hardware like AR glasses intensify—especially with Meta promoting its own version—Cook was asked whether these new gadgets could displace the iPhone. His response was clear: 'It's difficult to see a world where iPhones aren't living in it.' However, he acknowledged that Apple is exploring complementary AI devices that may enhance, rather than replace, the iPhone experience. When pressed about which AI technologies Apple sees as commoditized, Cook declined to reveal details, saying, 'That would give away part of our strategy.' While the broader scope of Apple's AI future remains under wraps, all eyes are now on the upcoming iPhone 17 series, expected to launch next month. Among the models, the iPhone 17 Air is rumored to be Apple's thinnest iPhone ever—marking yet another design milestone as Apple integrates AI deeper into its product line.
Hindustan Times
2 minutes ago
- Hindustan Times
OnePlus Tab Lite unboxing: Price in India, specifications, and features
Last week, OnePlus introduced a new budget tablet, the OnePlus Tab Lite, in India. This new device comes with some promising features that include an 11-inch display, a Hi-Res quad-speaker system, a massive 9340 mAh battery, and a sleek design that makes it look premium. It also ensures powerful performance with the MediaTek Helio G100 processor that claims to offer a seamless multitasking experience. Therefore, this could be a worthy buy at under Rs. 20000. Now, the OnePlus Tab Lite sale is also live on the e-commerce platform and several leading retail stores. OnePlus Tab Lite is the new budget tablet with a 9340 mAh battery, quad-speaker system, and more. OnePlus Tab Lite: Price and availability The OnePlus Tab Lite comes in a single Aero Blue colour variant. The tablet will be available in two storage variants, 6GB RAM + 128GB (WiFi) and 8GB RAM + 128GB (Wi-Fi + 4G LTE), priced at Rs. 15,999 and Rs. 17,999 respectively. The tablet will be available for purchase on Amazon, Flipkart, the OnePlus Store App, and OnePlus Experience Stores. It will also be available in offline retail stores, including Croma, Reliance Digital, Vijay Sales, and others. With the launch, OnePlus has also announced an exciting offer for the first sale. Buyers can get an instant bank discount of up to Rs. 2,000 and a special discount worth Rs. 1,000 for a limited period. OnePlus Tab Lite unboxing The OnePlus Tab Lite includes a SUPERVOOC charging adapter, a charging cable, a manual, and a SIM ejector tool in the Box. Here's a glimpse of what the new budget tablet will look like: OnePlus Tab Lite: Specifications and features The OnePlus Tab Lite sports an 11-inch LCD display that offers a 90Hz refresh rate and up to 500nits peak brightness. The tablet is quite slim at just 7.39mm in measurement and 530 grams in weight. For performance, it is powered by the MediaTek Helio G100 processor paired with up to 8GB RAM and 128GB internal storage. It is also backed by a massive 9340 mAh battery that claims to offer up to 80 hours of music playback or 11 hours of video streaming on a single charge. Lastly, the OnePlus Tab Lite features a 5MP rear and selfie camera. Apart from these features, the tablet also offers Kids Mode, Quick Share for Android and O+ Connect for iOS and iPadOS, Split screen, floating window, and more.
Time of India
8 minutes ago
- Time of India
Adani Power Q1 results: Net profit falls 16% to Rs 3,305 crore; revenue declines on lower tariffs and higher costs
Adani Power Ltd (APL) reported a 15.53% decline in consolidated net profit for the April-June quarter, with earnings falling to Rs 3,305 crore amid pressure from subdued merchant tariffs and elevated operating costs linked to recent acquisitions. The country's largest private thermal power producer had posted a net profit of Rs 3,913 crore in the same period last year. Despite the year-on-year drop, net profit rose 27.1% sequentially, aided by one-time income and continued EBITDA momentum, PTI reported. Revenue from operations declined to Rs 14,167 crore in Q1 FY26, compared to Rs 15,052 crore in the year-ago quarter, mainly due to lower realisation from merchant sales and falling import coal prices. EBITDA for the quarter stood at Rs 5,744 crore, down from Rs 6,290 crore a year earlier. The company said while a moderation in fuel costs provided some relief, operating expenses increased following the acquisition of multiple assets. APL's installed capacity rose to 17,550 MW during the quarter, from 15,250 MW earlier, after acquiring the 1,200 MW Moxie Power Generation Ltd, 600 MW Korba Power Ltd, and 500 MW Adani Dahanu Thermal Power Station. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Flexible in AI & Data Science BITS Pilani Digital Apply Now With the completion of the 600 MW Vidarbha Industries Power Ltd deal in July, total capacity reached 18,150 MW. The company achieved a plant load factor (PLF) of 67% in Q1. Total power sales rose 1.6% year-on-year, driven by the increase in operational capacity and higher offtake from select plants. Merchant sales for the quarter were up 7.7% at 5.7 billion units, compared to 5.3 BU in Q1 FY25. The Godda plant in Jharkhand, which supplies power to Bangladesh, has started receiving regular payments from the Bangladesh Power Development Board, with inflows of $437 million in June and another $75 million in July 2025. 'Stable financial performance this quarter is a testament to its resilience and core strengths, even in the face of variability in power demand and unpredictable weather,' said S B Khyalia, CEO of Adani Power. 'We continue to bolster our capacity through swift project execution and strategic acquisitions, ensuring we are well-prepared for future growth on our path to 30 Giga Watts (GW) by 2030.' Total debt stood at Rs 44,372 crore as of June 30, 2025, compared to Rs 38,335 crore at the end of March. Net debt rose to Rs 37,437 crore from Rs 31,023 crore in the same period. The company said the increase was due to bridge loans for capex and higher working capital needs in line with expanding operations. Adani Power currently operates 18,110 MW of thermal capacity across 12 locations in Gujarat, Maharashtra, Karnataka, Rajasthan, Chhattisgarh, Madhya Pradesh, Jharkhand, and Tamil Nadu, in addition to a 40 MW solar power plant in Gujarat. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
