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TCS to cut 2% of workforce, affecting around 12,000 jobs - The Economic Times
Economic Times
·
4d ago
Medial
Tata Consultancy Services (TCS) is set to lay off around 2% of its workforce, impacting over 12,000 employees, due to macroeconomic uncertainties and AI-driven disruptions. The affected employees will receive severance packages, outplacement services, and extended benefits. This move is part of TCS's strategic initiative to realign its workforce and invest in new technological areas. The decision follows a notable decline in job additions among major IT firms, reflecting broader industry challenges.
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Procter & Gamble to Slash 7000 Jobs Amid Tariff Strain and Consumer Uncertainty
StartupTalky
·
1m ago
Medial
Procter & Gamble plans to cut 7,000 jobs, about 6% of its global workforce, over two years due to rising costs and reduced consumer demand. Primarily affecting non-manufacturing roles, this restructuring aims to streamline operations. The decision follows weaker-than-expected sales and is part of a broader trend among large companies facing economic challenges, including those influenced by tariffs and AI adoption. Major firms like Amazon and Intel are also pursuing job cuts for similar reasons.
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HR firms log an uptick in TCS staffers hunting for job - The Economic Times
Economic Times
·
3d ago
Medial
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.
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Google offers 300% hike to retain employee switching to AI startup
Livemint
·
1y ago
Medial
Google once offered a 300% salary hike to an employee who was planning to switch to Perplexity AI, according to Perplexity AI's CEO Aravind Srinivas. Srinivas emphasized the extent to which tech giants are willing to retain their employees. The tech industry has recently witnessed layoffs, with Google alone cutting 32,000 roles. Last month, CEO Sundar Pichai warned of further job cuts, stating the need to make "tough choices" for new investments. In 2023, Google announced plans to cut around 12,000 jobs, approximately 6% of its workforce.
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Karnataka IT/ITeS Employees Union seeks action against TCS over job cuts - The Economic Times
Economic Times
·
1d ago
Medial
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.
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IT Ministry flags concerns over TCS layoffs, seeks clarification
YourStory
·
2d ago
Medial
The IT Ministry is examining TCS's decision to lay off 12,000 employees, which has raised concerns within India’s largest IT services company amidst a strategy shift focusing on AI and technology investments. The layoffs, affecting especially middle and senior grades, have sparked protests from employee unions like NITES, which question the legality of TCS's actions. The unions are threatening further actions unless TCS halts the layoffs and complies with retrenchment regulations. The situation reflects a wider industry trend amid global economic uncertainties.
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Amazon cuts more jobs, this time in books division
Economic Times
·
1m ago
Medial
Amazon has cut under 100 jobs in its books division, affecting Goodreads and Kindle units, to enhance efficiency and align with its business plan. This action is part of CEO Andy Jassy's broader strategy to reduce bureaucracy and streamline operations. The company has also recently made job cuts in its devices, services, podcast division, and communications staff. Despite these layoffs, Amazon's workforce increased by 4,000 jobs in the first quarter of this year.
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Paypal fires 2500 and UPS fires 12000 employees
Livemint
·
1y ago
Medial
Payments firm PayPal is considering cutting around 2,500 jobs, or 9% of its global workforce, by 2024. CEO Alex Chriss cited the need to "right-size" the business to deliver for customers and drive profitable growth. In a separate move, logistics company UPS plans to lay off 12,000 employees to offset soft demand and higher labour costs. Both companies are taking measures to streamline operations and improve financial performance.
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How HCLTech bucked the shrinking headcount trend
Livemint
·
1y ago
Medial
Major Indian software services companies, such as Tata Consultancy Services (TCS) and Infosys, witnessed a decline in their collective headcount in the recently concluded financial year. TCS reported a reduction of 13,000 employees, Infosys cut around 26,000 positions, and Wipro decreased its workforce by 23,000. Conversely, HCL Technologies was the only company among the top four to see an increase in headcount. These changes in headcount are monitored as an indicator of sales and billings for IT services firms. However, the link between headcount and sales may change with the advent of artificial intelligence.
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Tesla ready to invest up to $2 bln to build India factory, but with riders
Reuters
·
1y ago
Medial
According to a report by the Economic Times, Tesla is willing to invest up to $2 billion to establish a factory in India if the government lowers import duty on its vehicles to 15% for the first two years. The company is also open to investing $500 million if the reduced duty applies to 12,000 vehicles. The government is still evaluating the feasibility of Tesla's proposal.
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Tiger Global Backed Chargebee Fires 10% Workforce In 2nd Round Of Layoffs
Inc42
·
1y ago
Medial
Chargebee, the Chennai-based SaaS unicorn, has laid off approximately 10% of its global workforce, affecting around 100 to 120 employees across various departments. CEO Krish Subramanian cited "market shifts" as the primary reason for the layoffs. This comes almost ten months after Chargebee's initial reduction in workforce due to economic challenges. The company will provide severance packages following relevant labor laws in each country. Since the beginning of 2022, Indian startups have laid off over 28,000 employees as they navigate challenging economic conditions.
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