Ex-Levi's exec Jain is Arvind Fashions CEO
Jain will assume office on Aug 13. Until recently, Jain was MD & SVP of South Asia, Middle East, Africa and Eastern Europe at Levi Strauss & Co.
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Time of India
34 minutes ago
- Time of India
80% of workers rely on AI, but nearly 1 in 2 don't inform their boss: Survey
A growing number of American workers are independently integrating AI into their daily work, often without employer knowledge or guidance, according to a recent survey of 1,000 US employees across industries, conducted by Gusto. As ChatGPT surpasses one billion users globally, 80% of US workers report using AI at work, with 36% calling it 'essential' to their jobs. Yet only 26% say their organisations have clear AI policies, signalling a major gap between top-down governance and on-the-ground adoption. The report reveals that 45% of workers have used AI without informing their managers, with Gen Z and tech workers leading covert adoption. Two-thirds (66%) are personally paying for AI tools, underscoring a bottom-up transformation in how technology is being deployed across the workforce. However, this quiet shift comes with unease: 47% of employees have taken precautionary steps due to AI-related uncertainty, including increased savings (34%) and starting side hustles (24%). Skill inflation is also on the rise. One in four workers admitted to exaggerating their AI skills during hiring, often learning on the job or catching up later. This 'fake it till you make it' trend reflects growing pressure to appear AI-literate amid limited access to formal training. Google Trends data further shows rising anxiety nationwide about AI's impact on jobs, with California, Florida, and Texas showing the highest search volumes. When adjusted for population, Colorado and Mississippi rank highest per capita, with top concerns centred around job loss and the future of tech employment. Despite the enthusiasm for AI tools, the workforce is divided: 36% see AI as essential, while the rest view it as experimental. Still, 53% of workers say their productivity would suffer if AI were banned, highlighting its growing integration into day-to-day tasks. Transparency remains low, with only 32% proactively disclosing their use of AI, while the rest offer minimal or no explanation. This lack of clarity raises concerns around feedback, task assignment, and evaluation processes, making it harder for managers to assess work quality. Compounding these issues is a growing compensation gap. While 39% of companies have seen ROI from AI usage, only 17% of workers report receiving raises, bonuses, or recognition tied to AI-enhanced performance. Nearly a quarter (24%) believe their employers are benefiting financially while they see no personal gain, and 17% feel they're being asked to do more without additional pay. The findings underscore a quiet yet profound shift in workplace dynamics. Workers are leading AI adoption without waiting for top-down direction, creating pressure on employers to formalise policies, provide training, and ensure equitable benefits. Failure to do so risks widening the disconnect between corporate leadership and frontline innovation.
News18
an hour ago
- News18
TCS Enters The Tech Layoff Wave With Microsoft, Intel – AI Or Attrition To Blame?
Last Updated: The global tech industry is undergoing a massive shake-up. In just the first half of 2025, over 94,000 tech workers have lost their jobs Tech Job Cuts 2025: The global tech industry is undergoing a massive shake-up. In just the first half of 2025, over 94,000 tech workers worldwide have lost their jobs, averaging about 507 roles eliminated per day, according to multiple reports. From Microsoft and Intel to Meta and TCS, companies are announcing large-scale layoffs as they adapt to an AI-first, leaner future. AI: The Convenient Culprit? Artificial intelligence is at the center of this narrative. Executives such as Amazon CEO Andy Jassy have acknowledged that AI efficiencies will inevitably lead to a leaner workforce. Others, however, push back on the notion that AI alone is driving job cuts. For instance, TCS CEO K Krithivasan recently told Moneycontrol that the company's plan to cut 12,000 jobs — about 2% of its global headcount — is not because of AI productivity gains. Instead, he attributed the move to skill mismatches and limited deployment feasibility, especially among middle and senior-level employees. 'This is not because of AI giving some 20 percent productivity gains. We are not doing that," Krithivasan said, adding that the layoffs were part of a broader transformation to make TCS a 'future-ready organisation." Despite upskilling over 550,000 employees in AI and emerging tech, not all staff could transition effectively into TCS's evolving operating model. Many were trained in legacy systems and found it difficult to align with product-led, agile structures. Even as Microsoft hit record highs in the stock market, it has laid off over 15,000 employees so far this year. The cuts were primarily focused on non-technical roles like sales and regional support. CEO Satya Nadella, in a memo cited by The Economic Times, explained that the company must 'align with long-term strategic goals" centered around AI, cloud, and enterprise tools. Microsoft is reportedly encouraging all employees to integrate Copilot AI tools into daily workflows and is revamping performance metrics to include AI usage. Traditional sales roles are being replaced with 'solution engineers", trained in technical demos and AI implementation. Intel: Up to 24,000 Jobs Slashed Intel is also reducing its workforce drastically — cutting up to 24,000 jobs or nearly 25% of its global staff. New CEO Lip-Bu Tan admitted on an earnings call that the company had overestimated demand and that automation had become necessary to boost efficiency. Intel is also halting new projects in Germany and Poland and relocating operations from Costa Rica to Vietnam, impacting an additional 2,000 roles. While many firms are vague about AI's role in workforce reductions, a few are more transparent. IBM revealed that 200 HR jobs were replaced by AI tools, while Klarna CEO Sebastian Siemiatkowski told CNBC that the company shrank from 5,000 to 3,000 employees after adopting AI systems. Meta also reduced its workforce by 5% earlier in 2025, citing increased automation as a key driver. The company's Reality Labs division, which works on AR/VR technologies, was among the most impacted. Meanwhile, Panasonic announced 10,000 global layoffs, attributing the decision to a strategic shift toward AI-powered product development. Some analysts argue that AI is being used as a convenient scapegoat for broader cost-cutting and restructuring strategies. Jason Leverant, President of AtWork Group told CNBC, 'Firms laying off as they adopt large-scale AI is too coincidental to ignore." Christine Inge, a workforce strategist at Harvard, added, 'Being direct about AI displacement provokes backlash from employees and regulators. Remaining vague helps control optics during transition." She noted that while AI is accelerating the shift, economic slowdown, changing client expectations, and skills gaps are just as responsible. 'Job losses will be extremely large. The only thing we can do as individuals is adapt," Inge told CNBC. Not Just AI – But AI Is a Catalyst Whether it's TCS, Microsoft, or Intel, the layoffs of 2025 are clearly part of a deeper transformation. AI is undeniably a catalyst — streamlining operations, reducing redundancy, and reshaping business models — but it's not the sole cause. Instead, a mix of automation, cost pressures, macro uncertainty, and the need for organizational agility is driving the global wave of tech layoffs. Location : New Delhi, India, India First Published: July 28, 2025, 12:09 IST 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.
Time of India
an hour ago
- Time of India
Explained: Why TCS firing 12,000 employees may be a canary in the mine and what it means for investors
When Mark Zuckerberg announced in November 2022 that Meta would slash its workforce by 13% and lay off around 13,000 employees, shareholders celebrated the cost-cutting exercise with double-digit stock gains in the following days. But Tata Consultancy Services ' ( TCS ) decision to fire 12,000 workers tells a vastly different story, one that has investors running for the exits. India's largest IT exporter has decided to lay off roughly 2% of its workforce, or over 12,000 employees, as macro uncertainties and AI-led technology disruptions continue to pummel business demand. The announcement sent TCS shares tumbling up to 1.7% to a day's low of Rs 3,081.20 on BSE, adding to the stock's brutal 25% decline in calendar year 2025. The pain spread to peers like Infosys , which fell 2% during the day. Explore courses from Top Institutes in Please select course: Select a Course Category PGDM Design Thinking Data Science healthcare Project Management Product Management Degree CXO Management Others Technology Data Science others Leadership Cybersecurity Data Analytics Healthcare MBA Digital Marketing Public Policy Skills you'll gain: Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Duration: 24 Months IMI Delhi Post Graduate Diploma in Management (Online) Starts on Sep 1, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Indonesia: Unsold Sofas Prices May Surprise You (Prices May Surprise You) Sofas | Search Ads Search Now Also Read | TCS shares slip nearly 2% after company announces over 12,000 layoffs Why TCS layoff is worrying The contrast with Meta's experience reveals the fundamental difference between TCS' situation and typical tech layoffs. While Meta was cutting excess hires during pandemic-era growth, TCS is grappling with demand-related issues. Live Events Jefferies delivered a stark warning about what TCS' workforce reduction really means: "TCS' move to cut 2% of its workforce may lead to execution slippages in the near-term and higher attrition in the longer-run for the firm and reflects a weak demand environment for the sector. With most deal wins being led by cost-optimisation initiatives and involving AI-led productivity pass-through, IT firms unable to gain share may have to resort to lay-offs." The Nifty IT index has become 2025's worst-performing sector, plunging 24% from its peak into bear market territory. This isn't just about one company's struggles; it's a sector-wide crisis that's reshaping how investors view India's once-celebrated IT services industry. Jefferies explained the broader implications: "Focus on cost-cutting may hurt TCS in longer-run... The move by TCS reflects its growing focus on conserving margins amid continued growth pressures and is the third such move in the past 3 months after deferral of wage hikes in Apr-25 and the benching guidelines introduced in Jun-25, which restricted the non-billable period of an employee to 35 days/year." The brokerage warned that despite TCS traditionally enjoying lower-than-industry attrition levels due to job stability, "the ongoing lay-offs will hurt employee morale and could potentially lead to execution slippages. In the longer run, such policies could drive a sharp rise in attrition, similar to what was seen at Cognizant during 2020-22." Also Read | TCS layoffs: IT major to mass fire 12,000 senior, mid-level staffers amid AI push The AI factor What makes this downturn particularly concerning is its root cause: artificial intelligence is fundamentally changing how IT services work gets done. Jefferies noted that "with cost-optimisation being the key driver for new deal wins, clients are asking for productivity benefits—a trend which is also growing due to the rise in AI adoption." This creates a vicious cycle where "IT firms do more work with the same number of employees (wallet share gains) or the same work with fewer employees. The 2nd scenario eventually leads to lay-offs as redeployment of bench takes longer when demand environment is weak." Elara downgraded TCS to Accumulate from Buy, cutting its target price to Rs 3,770 from Rs 3,970. The brokerage cited multiple headwinds: "discretionary spend continues to be under heightened scrutiny, the new tariff order is adding further pain to some sectors such as Pharma, spending in Energy has reduced due to policy changes and geopolitical tensions, and BFSI is subdued in Europe and the UK." Elara is building in modest recovery expectations: "We build in some recovery from FY27 and factor in ~3.5% growth in FY27E. We cut FY26E/27E EBIT margin estimates by 50/60bps, led by a rise in attrition and possible further pressure on margin due to the new BSNL deal." For investors, the message is clear: this isn't a temporary blip but a structural shift requiring careful stock selection. Jefferies advised: "Given the current demand uncertainties, earnings outlook for IT firms may remain subdued, due to which we remain selective on the sector." Among large caps, the brokerage favors Infosys and HCLTech, noting that HCL "has emerged as a strong alternative to TCS given that it trades at similar PE multiples despite stronger growth outlook and similar FCF conversion." For mid-caps, Coforge and Mphasis get the nod "given their stronger growth outlook." TCS' layoffs aren't just about one company managing costs, but a canary in the coal mine for India's IT services industry, as Jefferies puts it.
