Latest news with #SohamParekh
News18
4 hours ago
- Business
- News18
‘Don't Wait… Learn Fast': Soham Parekh, Accused Of Moonlighting, Shares Advice On TCS Layoffs
Last Updated: TCS announced layoffs of 12,000 employees, 2% of its workforce, to save $300-400 million annually. The layoff announcement of Tata Consultancy Services (TCS) has shaken the entire IT industry in the country, with fears looming to have a ripple effect very soon. The largest Indian IT company has announced to trim 2 per cent of its workforce, or 12,000 employees, this fiscal year as part of cost optimization and to be future-ready. A senior IT analyst quoted in the ET report estimated that the layoffs at mid- and senior levels alone could help TCS save $300-400 million annually, equivalent to around Rs 2,400-3,600 crore, providing a 100-150 basis point boost to operating margins. The restructuring has sparked concern across the Indian IT industry, with analysts calling it a warning signal of deeper structural changes. Brokerage firm Jefferies described the development as a 'canary in the coal mine" moment, suggesting that rising AI adoption and cost-focused contracts are prompting IT firms to do more with fewer people. The firm also warned that while the strategy might improve margins, it could lead to execution challenges and higher attrition in the long run. In this uncertain climate, Soham Parekh—the Mumbai-based software engineer who made headlines for allegedly working multiple full-time jobs across U.S. startups—voiced strong advice to tech professionals: 'Don't wait. Outwork the system. Own your career." 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. Why Is Upskilling So Important For IT Professionals? Several benefits come with upskilling: Rapid Tech Advancements: The IT industry evolves quickly with emerging technologies like AI, cloud computing, and cybersecurity. Upskilling helps professionals stay updated and relevant. Better Career Growth: Acquiring new skills opens doors to higher-paying roles, leadership positions, and new job opportunities across domains. Stronger Job Security: As automation replaces repetitive tasks, professionals with advanced or niche skills are more likely to retain their roles and adapt to changes. Increased Productivity: Learning new tools and methodologies enhances efficiency, allowing professionals to solve problems faster and deliver better results. Meeting Industry Demand: Businesses seek tech talent that can handle modern challenges. Upskilled employees help companies stay competitive and innovative. About the Author Business Desk A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover More Stay updated with all the latest business news, including market trends, stock updates, tax, IPO, banking finance, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates—only on News18. Also Download the News18 App to stay updated! view comments First Published: 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.
Indian Express
4 hours ago
- Business
- Indian Express
Indian moonlighter Soham Parekh reacts to hiring freeze at TCS: ‘Outwork the system'
Tata Consultancy Services (TCS), India's biggest IT firm, has sent shockwaves through the tech world with its unexpected decision to trim about two per cent of its global workforce, a move that affects more than 12,000 employees. The announcement, seen by many as a response to the growing role of artificial intelligence (AI) in the industry, has sparked debate across the sector. Alongside the layoffs, TCS has reportedly halted senior-level hiring and suspended annual salary hikes company-wide, as per The Economic Times. Reacting to the news, tech professional Soham Parekh, infamous for allegedly juggling multiple startup jobs, weighed in with some tough love for fellow workers. In a post on X, he encouraged people to stop relying on companies for stability. 'Don't wait for handouts. Learn fast. Build harder,' he wrote, urging professionals to take charge of their own growth. 'Outwork the system. Outlearn the gatekeepers. Outbuild the giants,' he said in the post. Don't wait for handouts. Learn fast. Build harder. Your skills are your leverage. Outwork the system. Outlearn the gatekeepers. Outbuild the giants. — Soham Parekh (@realsohamparekh) July 29, 2025 TCS has acknowledged that the ongoing job cuts are largely impacting employees in mid- and senior-level roles, adding that bringing in replacements for these positions isn't part of their current plan. In a statement, the company said, 'Several reskilling and redeployment programs have been in progress. However, some associates will be released as their roles cannot be restructured to match future demands.' Earlier this month, Parekh found himself at the center of a storm after allegations surfaced that he was juggling roles at multiple startups, simultaneously. The issue caught public attention when Suhail Doshi, co-founder of Playground A and Mixpanel, accused Parekh on X of targeting Y Combinator-backed companies and inflating his resume with fabricated accomplishments. Responding to the backlash, Parekh admitted to his mistakes, saying, 'I'm not proud of what I've done… But financial circumstances. No one really likes to work 140 hours a week, but I had to do it out of necessity.' He described his actions as a result of being in a 'dire' situation, rather than a deliberate attempt to deceive. Many netizens reacted to the post in the comments. An individual wrote, 'I am 100% with you. This applies to students as well in higher secondary and college as much it applies to us who are working. We need learn how to build products and skills using AI. We have to be adaptive and robust.' Another person commented, 'Interesting take… but true leverage comes from spotting unmet needs, then rapidly prototyping solutions, imo. Building alone isn't enough.' A third user said, 'And learn what?? Please don't say AI ,its a very broad term or industry,please be specific. I am really curious to learn something that will be relevant in future.'
Time of India
6 hours ago
- Business
- Time of India
'Don't wait': Moonlighter Soham Parekh tells techies how to outsmart the system as TCS cuts 12,000 jobs
Soham Parekh , the Mumbai-based software engineer known for holding multiple jobs across US startups, has weighed in on the wave of layoffs announced by Tata Consultancy Services . His message to workers? Take control. Don't wait. 'Don't wait for handouts. Learn fast. Build harder. Your skills are your leverage. Outwork the system. Outlearn the gatekeepers. Outbuild the giants,' Parekh posted on X, responding to claims that TCS would freeze hiring of experienced staff and pause global salary increases. 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Many tech professionals see it as a blunt but timely reminder. Others question the credibility of someone previously accused of deceiving employers. Either way, his comments have struck a nerve. TCS Layoffs: What we know TCS has announced plans to lay off around 12,000 employees over the current financial year. That accounts for roughly 2 percent of its global workforce. The decision is part of a broader effort to transform the company into what it calls a 'future-ready organisation'. Live Events The layoffs will mostly affect mid- and senior-level employees. TCS confirmed that these roles cannot be reshaped to meet future demands. 'Several reskilling and redeployment programs have been in progress. However, some associates will be released as their roles cannot be restructured to match future demands,' the company said in its official statement. TCS also made it clear that rehiring for these positions is unlikely. Affected employees will be offered severance pay, career counselling, and outplacement services. Market reacts to the shake-up Following the announcement, TCS's market valuation took a hit. The company lost ₹28,148.72 crore over two days. On Tuesday, its shares fell by 0.73 percent to ₹3,056.55 on the BSE. The drop was mirrored on the NSE. The news has sent shockwaves through India's IT sector. While some industry watchers see the cuts as harsh, others argue they were bound to happen as artificial intelligence reshapes job roles across the board. What TCS said The company said the move is a response to ongoing margin pressures, a mismatch of existing skills with emerging needs, and growing demand for AI and automation capabilities. TCS, which employs over 6.13 lakh people worldwide, is shifting its focus toward AI-driven solutions, new markets, and a more agile workforce. That means letting go of roles that no longer align with this new direction. The layoffs are among the most significant in the company's history. Who is Soham Parekh Soham Parekh became a household name in the tech world after being accused of working full-time across multiple startups simultaneously. Suhail Doshi, co-founder of Playground AI and former Mixpanel CEO, publicly alleged that Parekh had been 'preying on YC companies'. Parekh admitted the claims. In an earlier interview, he said, 'I'm not proud of what I've done. That's not something I endorse either. But financial circumstances. No one really likes to work 140 hours a week, but I had to do it out of necessity. I was in extremely dire financial circumstances.' While his actions raised ethical concerns, former colleagues called him an outstanding developer. To some, he represents hustle. To others, a cautionary tale. Parekh's message arrives at a tense moment for Indian tech workers. The TCS cuts aren't just numbers. They are a signal. Traditional job security is eroding, and companies are demanding leaner, sharper, more AI-literate teams. For many professionals, especially those at the mid-career stage, the advice to 'outwork the system' might feel hollow. But for younger developers and those on the margins, Parekh's words echo a growing sentiment: rely on your skills, not your employer. What happens next in India's IT sector may well depend on how the workforce answers that challenge.
News18
20 hours ago
- Business
- News18
‘Outwork System, Outbuild Giants': Soham Parekh's Advice For Tech Workers Amid Layoffs
Last Updated: TCS plans to lay off 12,000 employees, about 2 percent of its workforce, to realign its strategy amid evolving tech needs. Tech giant Tata Consultancy Services (TCS) has announced to lay off around 12,000 employees—or roughly 2 per cent of its global workforce—over the course of the current financial year. The move is part of the company's broader effort to realign its workforce strategy and position itself as a 'future-ready" organisation, amid evolving technology and operational requirements. The industry is in shock with many criticising the move while others see it as inevitable with the rise of artificial intelligence in the sector. Meanwhile, Soham Parekh, the Indian tech professional who shot to infamy for working full-time at multiple startups simultaneously, weighed in on the layoffs news and offered advice to tech professionals. Reacting to a post that claimed 'TCS will freeze the hiring of experienced personnel and pause annual salary increases globally," Parekh advised techies to outwork the system. 'Don't wait for handouts. Learn fast. Build harder. Your skills are your leverage. Outwork the system. Outlearn the gatekeepers. Outbuild the giants," he said in a post on X. His reaction came after TCS confirmed that the layoffs will primarily affect middle and senior management positions. The company stated that rehiring for these roles would not be feasible. 'Several reskilling and redeployment programs have been in progress. However, some associates will be released as their roles cannot be restructured to match future demands," TCS said in its official statement. The decision, which marks one of the largest retrenchment drives in TCS's history, comes amid multiple structural challenges — ranging from margin pressures and skill mismatches to disruption from artificial intelligence (AI). TCS currently employs over 6.13 lakh people. Who Is Soham Parekh? Soham Parekh, an Indian software engineer based in Mumbai, made the headlines after he was publicly accused by Suhail Doshi, co-founder of Playground AI and former Mixpanel CEO, of secretly working full-time at 3–4 US-based startups simultaneously, including Y Combinator‑backed firms such as Dynamo AI and Synthesia. Parekh admitted to this in an interview, explaining that dire financial hardship forced him into the arrangement and that he often worked 140-hour weeks. While some praised his technical skill, most expressed concern over the ethical breach. view comments First Published: 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.
Hindustan Times
a day ago
- Business
- Hindustan Times
Serial moonlighter Soham Parekh speaks out as 12,000 TCS layoffs rattle Indian IT sector: 'Don't wait for...'
India's largest IT services company, Tata Consultancy Services (TCS), shocked the IT industry when it announced its plans to reduce around 2% of its global workforce. The move, which will impact over 12,000 employees, was criticised by many, while many called it inevitable as AI becomes more prominent. Soham Parekh, the Indian techie who was accused of working at multiple startups simultaneously, shared his views on the TCS layoffs.(X/@mhadifilms) Soham Parekh, the Indian techie who was accused of working at multiple startups simultaneously, also shared his views on the move and gave out advice to tech workers. Reacting to a post that claimed "TCS will freeze the hiring of experienced personnel and pause annual salary increases globally," Parekh advised techies to outwork the system. "Don't wait for handouts. Learn fast. Build harder. Your skills are your leverage. Outwork the system. Outlearn the gatekeepers. Outbuild the giants," he said. Parekh made headlines after several tech CEO's accused him of moonlighting across multiple startups and scamming employers. However, his former colleagues labelled him an excellent developer. While Parekh admitted to working at multiple startups at the same time, he claimed he did so to overcome financial difficulties. Meanwhile, TCS has claimed that the layoffs will affect middle and senior management, and the rehiring will not be feasible for these roles. 'Several reskilling and redeployment programs have been in progress. However, some associates will be released as their roles cannot be restructured to match future demands,' it said. The company is pursuing a broader transformation strategy that will involve evolving technologies like AI, expanding into new markets, and aligning talent with future business needs. Those laid off will receive severance benefits, career counselling, and outplacement services.
