While giving a public statement, the Tata Consultancy Services (TCS) revealed that the company had to let go of 12,000 employees during August.
How Did This Happen?
It appears that these speculations are rife as the number might be much, much bigger than what is told earlier.
The actual numbers are much bigger as around a whopping 80,000 employees were asked to resign, said an X platform user who goes by the name Soham Sarkar, citing his college friend who has worked at TCS for 15 years.
Some of the employees got 18 months of severance package, others got as low as three months of termination pay, and some didn’t get any compensation at all reportedly.
While responding to this comment, another user namely Sarkar said that the number is most likely true.
Jashan, an X user said, “I’ve heard a similar story from a friend whose wife works at TCS. Not sure about the 80k number, but he said people are being let go without severance packages.”
Similar stories were told by another X user, saying, “Very true. One of my Managers was forced to take VRS after more than 25 years with TCS. My neighbour has been laid off after being in there for 20 years. Ex Manager says they get fluidity lists every week. From various people I have heard that the number is around 40-50k so far.”
TCS Dismissing The Rumours
When asked about this, the TCS spokesperson dismissed the rumours of companies cutting 80,000 jobs, circulating on social media platforms, as incorrect.
TCS is not alone as earlier IT major, Accenture, has also laid off around 11,000 employees over the last three months reportedly.
Considering the super-fast advancement of generative Artificial Intelligence, the technology corporate companies are increasingly automating several white collar jobs, such as coding over the past couple of years.
This has led to the company trimming the team sizes, and this is affecting mid-level senior employees.
According to IT industry experts, software professionals, particularly in India, have to embrace gen AI as a tool to improve productivity.
They claim that instead of fearing, they should improve their skill sets and become a valuable asset to the company.
During the Google @Research event in Bengaluru in 2024, Google AI chief Dr Jeff Dean had said, “India has tremendous technical talent; there’s a long tradition of computer science students in India doing amazing things. Anyone with an interest in computer science is turning their attention to machine learning and what it can do. India is well-well-positioned in this area because many students are already in this field and people are already in this industry. It’s an important thing across the world.”
The Perplexity AI, co-founder and CEO Aravind Srinivas recently urged youngsters to spend more time learning gen AI and reduce screen time on scrolling reels on Instagram
