Massive job cuts in India soon? 50,000 jobs at risk, companies secretly planning mass layoffs, TCS and Accenture planning to...
According to the reports, TCS is planning to cut around 12,000 more employees by March 2026, which is about 2 percent of its total workforce.
Image for representational purposes
New Delhi: In a concerning development, India's IT sector is likely to witness massive layoffs. According to reports, more than 50,000 employees may lose their jobs by the end of this year. However, it is important to note that this number could fluctuate.
As per The Times of India report, nearly 25,000 people lost their jobs between 2023 and 2024. This number could double this year. Companies are using several tactics- some are citing poor performance as a reason for termination, others are delaying promotions, or even requesting employees to submit voluntary resignations.
Phil Fersht, CEO of US-based HFS Research, told Times of India that large companies have secretly laid off a significant number of employees this year. Niti Sharma, CEO of Teamlease Digital, estimated that the total number of IT professionals affected by layoffs could rise to 55,000 60,000 by the end of the year.
More Layoffs Ahead
Recently, companies like TCS and Accenture have announced large-scale layoffs. According to the reports, TCS is planning to cut around 12,000 more employees by March 2026, which is about 2 percent of its total workforce. Meanwhile, Accenture has laid off 11,000 employees worldwide between June and August.
In India, companies are adapting to the AI transformation era, which is changing the way they operate. By embracing AI, firms are not only cutting costs but also undergoing a strategic shift.
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