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TCS market value drops by ₹28,149 crore after layoff plan announcement
On Tuesday, the bellwether stock declined 0.73 per cent to settle at ₹3,056.55 apiece at the BSE. During the day, it dropped 1.23 per cent to ₹3,041.
On the NSE, it dipped 0.72 per cent to ₹3,057.
Shares of TCS had declined nearly 2 per cent on Monday.
The stock has lost 2.48 per cent in two trading days.
The market capitalisation (mcap) of TCS eroded by ₹28,148.72 crore to ₹11,05,886.54 crore in two days.
India's largest IT services firm TCS is set to lay off about 2 per cent, or 12,261 employees, of its global workforce this year, with the majority of those impacted belonging to middle and senior grades.
As of June 30, 2025, the TCS workforce stood at 6,13,069. It increased its workforce by 5,000 in the recently concluded June quarter.
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.
"Towards this, a number of reskilling and redeployment initiatives have been underway. As part of this journey, we will also be releasing associates from the organisation whose deployment may not be feasible. This will impact about 2 per cent of our global workforce, primarily in the middle and the senior grades, over the course of the year," it said.
TCS will provide appropriate benefits, outplacement, counselling, and support to the impacted employees, it added The move comes at a time when India's top IT services companies have delivered single-digit revenue growth in Q1FY26, capping off a somewhat sobering June quarter as macroeconomic instability and geopolitical tensions weighed on global tech demand and delayed client decision-making.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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