Layoff impact weighs: TCS loses Rs 28,149 crore in market cap in 2...

Layoff impact weighs: TCS loses Rs 28,149 crore in market cap in 2 days; 12,000 job cuts planned

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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.

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