Mumbai, July 28: Stocks of Tata Consultancy Services Limited (BSE: TCS) fell by nearly 2 per cent in early trade today, July 28 (Monday), after the IT major said that it is laying off about 2 per cent, or 12,261 employees, of its global workforce this year. Of the 12,261 job cuts, those impacted belong to middle and senior grades. According to reports, shares of TCS fell as much as 1.69 per cent to INR 3,081.20 apiece on the Bombay Stock Exchange (BSE) early trade on Monday.

On the National Stock Exchange (NSE), shares of Tata Consultancy Services Limited (NSE: TCS) fell by 1.01 per cent and saw a decline of INR 31.60. TCS stocks were trading at INR 3,104.20 and INR 3105.10 on NSE and BSE, respectively. The fall of nearly 2 per cent of TCS stocks has reportedly led to wiping out INR 18,250 crore of investor wealth. TCS Layoffs: Is AI Responsibile for Massive 12,000 Job Cuts at Tata Consultancy Services? CEO K Krithivasan Cites This Reason Behind Layoff Plans.

Revealing the reason behind the layoff, TCS said, "The move is part of the company's broader strategy to become a “future-ready organisation”, focusing on investments in technology, AI deployment, market expansion, and workforce realignment." Till June 30, 2025, TCS's workforce stood at 6,13,069. In the recently concluded April-June quarter, Tata Consultancy Services increased its workforce by 5,000 employees.

The IT major also said that the company will provide appropriate benefits, outplacement, counselling, and support to the employees who are being laid off. Notably, TCS's layoffs come at a time when the country's top IT services companies have delivered single-digit revenue growth in Q1FY26. TCS Layoffs: Tata Consultancy Services To Lay Off Around 2% of Global Workforce Over Next 12 Months, Job Cuts Likely To Impact 12,000 Employees.

Besides TCS, Microsoft has also laid off over 15,000 employees in 2025, which is 7 per cent of the company's global workforce.

(The above story first appeared on LatestLY on Jul 28, 2025 10:44 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).