AI Push Triggers Record Job Cuts at TCS
Tata Consultancy Services Ltd. (TCS) has made its largest-ever round of job cuts due to rising tensions with the US and a rapid shift toward artificial intelligence in India’s $280 billion IT services industry.
According to its earnings presentation, TCS reduced its workforce by 19,755 employees in the quarter ended September 30, with both layoffs and voluntary exits contributing to the figure.
- Total employee count has fallen below 600,000 for the first time since March 2022.
- This marks a 3.2% drop from the previous quarter.
- TCS set aside ₹11.35 billion ($128 million) for severance costs.
Author's summary: TCS cuts 19,755 jobs amid AI shift.