IT Ministry Closely Monitoring the Situation Arising Out of TCS Layoffs

NITES Has Approached Union Minister for Labour and Employment & Urged That the Government Issue a Notice to TCS Seeking an Explanation

- OUR CORRESPONDENT

NEW DELHI: The IT Ministry is keeping a close watch on the situation arising out of Tata Consultancy Services' (TCS) decision to lay off over 12,000 employees, and is in touch with the Tata Group company, sources said on Monday.

The move comes as India's largest IT services company is preparing to lay off two percent of its global workforce this year, in what it describes as a broader strategy to become a "future-ready organisation", with focus on investments in technology, AI deployment, market expansion, and workforce realignment.

The bulk of the impact will be felt on middle and senior grades at TCS.

The IT Ministry is keeping a close watch on the entire situation, and is in touch with the tech company, sources said. The ministry is concerned and will go into the underlying causes that prompted the move.

The blue-chip stock dipped 1.76 percent, closing at Rs 3,079.05 apiece on the Bombay Stock Exchange (BSE) on Monday, as news of layoffs sent fresh tremors in the tech circles.