Why is TCS letting go of 12,000 of its employees? Is AI the reason?

Tata Consultancy Services (TCS) announced that it would reduce its global workforce by approximately two per cent, a move that will affect over 12,000 employees, primarily at the middle and senior levels, over the next year. The IT giant said the decision is part of a broader strategy to make TCS ‘more agile and future-ready’

Why is TCS letting go of 12,000 of its employees? Is AI the reason?
Tata Consultancy Services (TCS) announced that it would reduce its global workforce by approximately two per cent, a move that will affect over 12,000 employees, primarily at the middle and senior levels, over the next year. The IT giant said the decision is part of a broader strategy to make TCS ‘more agile and future-ready’