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News18
30-07-2025
- Business
- News18
TCS Layoffs: Labour Ministry Summons IT Firm Over Mass Job Cuts, Hiring Delays
Last Updated: The labour ministry has summoned TCS over two major issues -- the recent layoffs of 2% workforce or 12,000 employees, and the pending hiring of 600 professionals, says a report. TCS Layoffs. TCS Layoffs 2025: The Labour Ministry has summoned Tata Consultancy Services (TCS) on Friday, August 1, over the company's recent layoffs and delays in onboarding new hires, CNBC Awaaz has reported. The move follows a complaint filed by the Nascent Information Technology Employees Senate (NITES) with the office of the Chief Labour Commissioner (CLC). 'The labour ministry has summoned TCS over two major issues — the recent layoffs of 2% workforce or 12,000 employees, and the pending onboarding of 600 professionals. The ministry has summoned the company after the IT workers' union NITES had filed a complaint in the chief labour commissioner's office," CNBC Awaaz has reported. Taking cognisance of the NITES' complaint, the chief labour commissioner has summoned TCS on August 1, Friday, to get the detailed status of these two issues, according to the report. The Nascent Information Technology Employees Senate (NITES) on Monday, July 28, slammed the layoffs at TCS, calling it 'inhumane", 'unethical" and 'outright illegal". 'Most of those affected are mid and senior-level professionals who have served the company loyally for 10 to 20 years. The email was callously sent on a Sunday evening, without prior notice or any formal communication process in place. This mass layoff is not only unethical and inhumane; it is outright illegal. TCS has planned to terminate thousands of employees without giving them due notice or any prior intimation to the government, all of which are mandatory under existing Indian labour laws," Harpreet Singh Saluja, president of NITES, said in the complaint. 'The IT sector in India employs lakhs of professionals and has been a pillar of our economy. If a company of TCS's scale is allowed to carry out mass layoffs without following due process and without consequences, it will set a dangerous precedent for other companies. It will normalise job insecurity, erode employee rights, and severely damage trust in India's employment ecosystem," he added. On Sunday, July 27, TCS management reportedly circulated an internal email confirming the layoff of nearly 12,000 permanent employees. The majority of those impacted are said to be mid- and senior-level professionals. On Monday, the NITES appealed to Labour Minister Mansukh Mandaviya to intervene, demanding an immediate halt to all terminations and the reinstatement of affected employees. TCS Layoffs TCS, India's largest IT services company, is set 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. As of June 30, 2025, the TCS 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. Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! view comments Location : New Delhi, India, India First Published: July 30, 2025, 14:31 IST News business » economy TCS Layoffs: Labour Ministry Summons IT Firm Over Mass Job Cuts, Hiring Delays Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Business Upturn
23-07-2025
- Business
- Business Upturn
Natco Pharma plans to acquire majority stake in South Africa's Adcock Holdings: Report
By Aditya Bhagchandani Published on July 23, 2025, 12:11 IST According to sources cited by CNBC Awaaz, Natco Pharma is planning to acquire a majority stake in Adcock Holdings, a South Africa-based pharmaceutical company. The Hyderabad-headquartered drug maker is reportedly in talks to take control of Adcock, which is known for its portfolio of generic and over-the-counter (OTC) medicines across Africa. Adcock Ingram, the parent entity, has a significant presence in the African pharmaceutical market, offering a range of generic and OTC products catering to local healthcare needs. This potential acquisition could mark a strategic expansion for Natco into the African healthcare market. The deal, if it materializes, would strengthen Natco's international footprint and diversify its revenue streams into emerging markets. Disclaimer: The information provided here is based on reports from CNBC Awaaz and other publicly available sources. It is for informational purposes only and should not be considered as investment advice or a recommendation to buy or sell any securities. Please consult a qualified financial advisor before making any investment decisions. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Mint
24-06-2025
- Business
- Mint
Think twice before acting on TV stock tips: How front running cheats retail investors
Televised stock market advice along with viral telegram tips often lure innocent retail investors searching for quick equity market gains. Still, a darker concept of 'front running' has led to major enforcements by SEBI along with several strict actions to stop the plundering of retail investor money. The regulator has recently barred analysts, anchors, brokers, market participants and fund dealers for abusing their influence to rake in huge profits ahead of recommendations. Front running simply involves trading on advance, non-public information. This information can contain details about client orders or public stock tips to gain an unfair advantage of the common retail investors. Front running results in undermining market integrity and misleads investors. Furthermore, it is punishable under Regulations 3 and 4 of Prohibition of Fraudulent and Unfair Trade Practices i.e., PFUTP Regulations (2003) and Section 15HA of the SEBI Act, 1992. Now penalties under this legal provision include fines of up to ₹ 25 crores or three times the profits made along with trading bans and time based restrictions. Sanjiv Bhasin – IIFL stock tip scam (June 2025) Bhasin along with 11 others traded through affiliated entities, before publicly recommending stocks on leading media platforms such as Zee Business, CNBC Awaaz and Telegram. SEBI impounded him with ₹ 11.37 crore. The entire scam was carried out by using WhatsApp, phone, and trade records. Zee Business guest analysts – Kiran Jadhav & others (Feb 2024) Several experts tipped stocks after connected traders already bought in, making ₹ 7.5 crore in unlawful gains. SEBI froze assets and issued bans under PFUTP. This was another shocking case of cheating innocent retail investors and luring them into trades based on tips. Hemant Ghai – CNBC Awaaz anchor (Jan 2021) SEBI barred CNBC Awaaz anchor Hemant Ghai and his family for front-running. This scam involved buying stocks ahead of his on-air recommendations. They earned ₹ 6.1 crore illegally. This marked SEBI's first action against a TV anchor for such misconduct. Axis Mutual Fund case – Viresh Joshi & associates (Sept 2021–Mar 2022) SEBI barred Axis MF's ex-chief dealer Viresh Joshi and 20 others for front-running fund trades between Sept 2021 and Mar 2022. ₹ 30 crore in illegal gains was impounded, with accounts frozen and action taken under PFUTP regulations. IDBI Capital – Dedhia & Savla (May 2024) In this particular case, SEBI barred IDBI Capital's Gaurav Dedhia and his sister Kajal Savla for front-running client trades using internal deal information. A total of ₹ 1.67 crore was recovered, and both were fined for violating market integrity under PFUTP regulations. Now given the Axis Mutual Fund and IDBI Capital cases involve institutional front running i.e., a kind of practice where machinery of institutions was used to make unlawful gains. On the other hand, the cases related to Bhasin, Jadhav and Ghai are nothing but media linked manipulative front running. According to SEBI both are fraudulent market practices under the PFUTP and are explicitly classified as illegal offences. Therefore, taking into consideration the above cases carefully, you can stay safe from front running scams by following these simple steps diligently: Be wary of lucrative and buzzy stock tips on both television or Telegram. Check and confirm if the tipster is a registered investment adviser (check SEBI registry). Carefully cross check any sudden price jumps post recommendation. Depend only on independent research or verified brokerage reports. Report suspicious stock trades or timing inconsistencies to SEBI. Hence, by consistently reading, understanding facts and building knowledge of equity markets along with taking guidance from investment professionals you can keep yourself safe from front running scams. Disclaimer: This article is for informational purposes only and does not constitute investment, legal, or financial advice. All references to cases are based on publicly available SEBI records. Readers are encouraged to verify facts independently and consult a SEBI-registered investment adviser before acting on any stock recommendations.
Business Upturn
12-06-2025
- Business
- Business Upturn
Jubilant Group initiates block deals; Bhartia family to offload stake across key listed entities
In a significant market development, the Bhartia family, promoters of the Jubilant Group, is set to offload stakes in three of its listed companies via block deals, according to sources cited by Yatin Mota and CNBC Awaaz. Jubilant FoodWorks A major portion of the transaction involves Jubilant FoodWorks, where the promoters will sell 2% stake, amounting to 1.32 crore shares. The floor price has been fixed at Rs 641 per share, and Morgan Stanley is reportedly managing the deal. Other Group Companies Jubilant Pharmova : Around 56 lakh shares are expected to be offloaded. Jubilant Ingrevia: Approximately 1.2 crore shares will be sold. These strategic block deals come at a time when the group may be looking to rebalance holdings or raise funds for business needs. Market participants are closely watching the implications of this multi-company stake sale, especially given the group's significant presence in the food, pharma, and chemical sectors. More details are awaited as the deals are executed on the bourses. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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Business Standard
09-06-2025
- Business
- Business Standard
Starlink to launch in India with ₹3,000 monthly plans, ₹33,000 setup cost
Elon Musk 's satellite internet venture Starlink is moving closer to launching its services in India, with expected pricing of ₹3,000 per month for unlimited data and a ₹33,000 one-time cost for the receiver kit, according to CNBC Awaaz. The service is expected to begin operations within the next 12 months, as reported by NDTV. Starlink recently secured a key licence from the Ministry of Telecommunications on June 6, marking a major milestone in its efforts to enter India's broadband market. With this clearance, Starlink joins Bharti Airtel's OneWeb and Reliance Jio's satellite arm as one of the three players authorised to offer satellite-based internet services in India. Targeting regions with LEO satellite tech Starlink plans to deliver 600–700 Gbps of bandwidth through its low-Earth orbit (LEO) satellite constellation, targeting rural and remote areas where conventional fibre and mobile networks remain limited or unreliable. While India is known for offering some of the world's most affordable data rates, Starlink is positioning itself as a premium provider in regions where terrestrial internet is not an option. Initial expectations for Starlink's India pricing had varied. Former Starlink India head Sanjay Bhargava had estimated a first-year cost of ₹1.58 lakh, which would reduce to ₹1.15 lakh in subsequent years. The updated figures bring pricing in line with Starlink's recent launch in Bangladesh, which offers the service at ₹3,000 per month and a ₹33,000 hardware cost. Starlink expands footprint in Asia Starlink currently operates across select Asian countries, including Japan, Malaysia, Indonesia, the Philippines, Bhutan, and Bangladesh. Pricing for its Residential Lite plans across the region typically ranges from ₹2,600 to ₹3,000 per month, while standard plans are priced between ₹4,000 and ₹6,000 depending on the market. In Bangladesh, where the pricing model closely mirrors that proposed for India, the first-year cost totals around ₹66,000. Despite receiving its operating licence, Starlink must still navigate further regulatory hurdles before it can launch services in India. The Telecom Regulatory Authority of India's (TRAI) spectrum allocation recommendations are still awaiting approval from the DoT.
