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No More Middlemen: TCS Cuts Vendor Access After Laying Off 12000 Employees

StartupTalky

StartupTalky · 22d ago

No More Middlemen: TCS Cuts Vendor Access After Laying Off 12000 Employees

TCS laid off over 12,000 employees and ended vendor partnerships to streamline contract hiring, which comprises 8-10% of its workforce. Pontoon Solutions, a US-based recruitment outsourcing firm, will now manage this process. TCS aims to cut costs, gain control, and enhance transparency in hiring following a 0.59% revenue drop. The new process includes job postings through Pontoon, who filters candidates before final TCS assessment, eliminating past weak vendor-reliant hiring practices.

Related News

Microsoft Cuts 305 Jobs at Washington HQ Weeks After 6,000 Layoffs Targeting Engineering and Legal Roles | DeepNewz Business

Business Bytes

Business Bytes · 2m ago

Microsoft Cuts 305 Jobs at Washington HQ Weeks After 6,000 Layoffs Targeting Engineering and Legal Roles | DeepNewz Business

Microsoft recently announced an additional 305 job cuts at its Washington headquarters, following an earlier layoff of 6,000 employees. The latest layoffs primarily impact employees in legal, marketing, and engineering positions. These cuts are part of Microsoft's ongoing efforts to align its workforce and business strategies to adapt to changing market demands. Meanwhile, Del Frisco’s Grille in Philadelphia will close, laying off 51 employees between late July and early August 2025.

Tesla is laying off more than 10% of its global workforce

TechCrunch · 1y ago

Tesla is laying off more than 10% of its global workforce

Tesla is laying off more than 10% of its global workforce, affecting over 14,000 employees, according to an internal email from CEO Elon Musk. The job cuts come after a decline in sales and as the company looks to reduce costs and increase productivity. Tesla's sales growth is expected to be lower in 2024, and the company is in a transitional phase with its product lineup. Despite shipping a record 1.8 million EVs in 2023, Tesla faced challenges from high interest rates and global competition, leading to price cuts on popular models. The company has also reportedly delayed plans for a lower-cost EV.

More layoffs in store at Google after thousands fired in New Year

Economic Times

Economic Times · 1y ago

More layoffs in store at Google after thousands fired in New Year

Google is preparing for additional job cuts, according to CEO Sundar Pichai. In an internal memo, Pichai mentioned that more roles will be impacted in order to create capacity for investment in the company's priorities. Last year, Google eliminated around 12,000 jobs, but Pichai stated that the current cuts will not be at the same scale and won't affect every team. YouTube is also reportedly laying off employees on the business side. The tech sector has seen other companies, like Amazon, announce layoffs recently.

Google cuts at least 100 jobs across fast-growing cloud unit

CNBC

Google cuts at least 100 jobs across fast-growing cloud unit

Alphabet is laying off at least 100 employees in its Google Cloud unit, impacting sales, consulting, strategy, operations, and engineering teams. The cuts aim to align with customer priorities and business opportunities, despite Google Cloud's significant revenue growth and profitability. This follows ongoing layoffs since early 2023, reflecting pressures to maintain growth amid increasing AI competition .

TCS layoffs: No employee has complained, IT firm tells Karnataka labour authority - The Economic Times

Economic Times

Economic Times · 22d ago

TCS layoffs: No employee has complained, IT firm tells Karnataka labour authority - The Economic Times

Tata Consultancy Services (TCS) met with Karnataka's labour officials following complaints from the Karnataka State IT/ITeS Employees Union regarding impending layoffs. The IT giant is set to lay off 12,000 employees globally, raising concerns over labour law violations. Although TCS representatives claimed to be unaware of the precise number and location of layoffs, they were asked to address employee grievances. Further discussions are scheduled, despite TCS not recognizing the union or any specific employee complaints.

Bizongo lays off 15% employees shortly after announcing $50 Mn fundraise

Entrackr

Entrackr · 1y ago

Bizongo lays off 15% employees shortly after announcing $50 Mn fundraise

E-commerce packaging company Bizongo has laid off 15% of its workforce, approximately 50 employees, shortly after securing $50 million in funding. This is the second round of layoffs for the company, with the first occurring in June 2020. Bizongo offers digital vendor management and supply chain services to its enterprise customers. The company aims to achieve profitability by FY24. The layoff comes amidst a challenging time for the Indian startup ecosystem, with over 15,000 job cuts reported in the first nine months of the year.

Karnataka IT/ITeS Employees Union seeks action against TCS over job cuts - The Economic Times

Economic Times

Economic Times · 29d ago

Karnataka IT/ITeS Employees Union seeks action against TCS over job cuts - The Economic Times

Karnataka's IT/ITeS Employees Union (KITU) has filed an industrial dispute against Tata Consultancy Services (TCS) for allegedly forcing resignations and initiating mass layoffs, affecting over 12,000 employees. The union accuses TCS of violating the Industrial Disputes Act by not seeking government approval for the job cuts. TCS cites skill mismatches as the reason for layoffs amid macro uncertainties. The central government is examining the issue, seeking justice for affected employees.

EY is laying off U.S. partners amid tough economic conditions

Livemint

Livemint · 1y ago

EY is laying off U.S. partners amid tough economic conditions

In response to slowing demand and cost-cutting measures after a failed plan to break up the firm, Ernst & Young (EY) is reportedly laying off dozens of partners across all its U.S. businesses. The cuts primarily impact the advisory side of the operation, affecting over 10% of partners in consulting and around 4% in strategy and transactions. EY had already let go of 3,000 U.S. employees in April. Other accounting firms like KPMG and Deloitte have also reduced staff numbers amidst slowing revenue growth.

HR firms log an uptick in TCS staffers hunting for job - The Economic Times

Economic Times

Economic Times · 1m ago

HR firms log an uptick in TCS staffers hunting for job - The Economic Times

Tata Consultancy Services (TCS) announced a layoff of 2% of its workforce, over 12,000 employees, primarily impacting middle and senior levels by fiscal 2026. This announcement has led to an increase in job search queries from TCS employees, according to executive search firms like Transearch, CIEL HR, and Michael Page. Many expect more job cuts than those announced. Opportunities may be found in IT services, global capability centers, and startups, especially for those with expertise in emerging technologies.

NVIDIA-backed Cohere lays off 5% of staff after $500 mn fundraise

Times Now · 1y ago

NVIDIA-backed Cohere lays off 5% of staff after $500 mn fundraise

AI startup Cohere is laying off around 20 employees, equivalent to roughly 5% of its workforce. This comes after the startup raised $500 million in funding at a valuation of $5.5 billion, more than double its valuation from June 2023. AMD, Salesforce, Oracle, NVIDIA and Canadian pension investment manager PSP Investments were among the investors that participated in the funding.

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