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.
TCS has also put a freeze on senior-level hiring and annual salary hikes across its global operations, according to a report in The Economic Times. Soham Parekh, the Indian techie who was accused of working at multiple startups simultaneously, also shared his views on the turmoil.
"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 CEOs 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.
{{/usCountry}}Parekh made headlines after several tech CEOs 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.
{{/usCountry}}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.