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As part of the agreement, TCS will partner with the company to simplify and standardise operations across its three major markets, Denmark, Sweden, and Norway.
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In August, the company had said that it will be giving out increments to around 80% of its employees effective from September 1.
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The restructuring comes at a time when IT services companies are aggressively strategizing their AI playbooks to capture market share amid larger demand slowdown globally
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The transaction comes at a time when Bengaluru’s office absorption - or the net change in occupied office space - is seeing growth after a muted 2023–24.
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Unlike its industry peers, Genpact, which has undergone a strategy reset under new leadership, has beefed up its mid and senior-level talent.It has hired over 100 executives in the past five months, Sanjeev Vohra tells Moneycontrol
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As the sector struggles to remain relevant through the ongoing phase of transformation, only the nimble and agile players will emerge triumphant
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The Buy-and-Hold strategy may be timeless, but for retail investors, the real test lies in choosing companies with enduring management strength
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The report highlights that Indian large-cap IT stocks have undergone significant derating amid sectoral slowdown, negative news flow, and an uncertain outlook even though the IT sector fundamentals remain strong.
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Pantoon Services will now coordinate with more than two dozen of vendors, ensuring they do not have direct contact with the IT company's resource management group, Mint reported.
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A viral post claims a TCS employee has been sleeping outside the Pune office after not receiving salary.
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The IT firm's board cited the company's market performance as one of the key reasons for the fatter pay package
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TCS layoffs aren’t pink slips, but neon signs flashing: “Adapt or Evaporate.” The new playbook? Forget tenure, flaunt agility. The key is to acquire transferable assets like negotiation skills, resilience, systems thinking, and stakeholder orchestration
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Software major Infosys is upbeat about growth and hiring, even as its larger rival TCS said it will be letting go of over 12,000 employees. In an interview to Moneycontrol’s Chandra R Srikanth, Infosys CEO and MD Salil Parekh said the company is benefiting from consolidation decisions and is seeing demand for data, cloud and AI solutions. The company recently raised its growth forecast for FY26.
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Sources told Moneycontrol that the Labour Department is likely to issue a notice to TCS management following a complaint filed by KITU over the recent layoffs.
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When asked about the layoffs at TCS, Salil Parekh said that Infosys will continue with its hiring plans.
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The advent of GenAI has made white collar workers more vulnerable than blue collar workers, an inversion of the traditional cycle. In any industrial revolution, it’s destruction effect and the consequent worker displacement which is apparent in the early stage
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Analysts believe the growing expansion of GCCs in India may help offset any temporary impact caused by layoffs in traditional IT firms
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Attrition also increased at Infosys in the last one year
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TCS’ move to opt for job cuts will have a cascading effect on other IT companies, who too have been launching various programs to improve operating margins in the past two years amid growth slowdown.
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EPFO data shows slowdown in hiring trends in engineering, expert services, and IT-linked fields despite strong GDP growth
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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
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TCS’ move to opt for job cuts will have a cascading effect on other IT companies, which have also been launching various programs to improve operating margins in the past two years amid growth slowdown.
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Gurnani said that the move reflects the humanization of AI, which means that while some routine jobs may be cut, new jobs may be created.
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At the end of the June quarter, TCS had 6,13,000 employees. A 2 percent workforce cut will impact roughly 12,200 employees
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Constant currency revenues at TCS are estimated to decline or grow only marginally in FY26
