Layoff impact weighs: TCS loses Rs 28,149 crore in market cap in 2 days; 12,000 job cuts planned
Tata Consultancy Services' shares have declined for two consecutive sessions after announcing plans to lay off approximately 12,000 employees globally. This decision, impacting primarily middle and senior-level staff, is part of TCS's transition to a future-ready organization focused on AI and market expansion. The move resulted in a significant drop in market capitalization, exceeding Rs 28,000 crore over two days.
Tata Consultancy Services' shares have declined for two consecutive sessions after announcing plans to lay off approximately 12,000 employees globally. This decision, impacting primarily middle and senior-level staff, is part of TCS's transition to a future-ready organization focused on AI and market expansion. The move resulted in a significant drop in market capitalization, exceeding Rs 28,000 crore over two days.
