Tata Consultancy Services has lost Rs 28,148.72 crore from its market valuation in two days after the company announced that it will lay off about 12,000 employees of its global workforce this year.
On Tuesday, the bellwether stock declined 0.73% to settle at Rs 3,056.55 apiece at the BSE. During the day, it dropped 1.23% to Rs 3,041.
On the NSE, it dipped 0.72% to Rs 3,057. Shares of TCS had declined nearly 2% on Monday. The stock has lost 2.48% in two trading days.
The market capitalisation of TCS eroded by Rs 28,148.72 crore to Rs 11,05,886.54 crore in two days.
India's largest IT services firm TCS is set to lay off about 2%, or 12,261 employees, of its global workforce this year, with the majority of those impacted belonging to middle and senior grades.
As of June 30, 2025, the TCS workforce stood at 6,13,069. It increased its workforce by 5,000 in the recently concluded June quarter.
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, TCS said in a statement.
"Towards this, a number of reskilling and redeployment initiatives have been underway. As part of this journey, we will also be releasing associates from the organisation whose deployment may not be feasible. This will impact about 2% of our global workforce, primarily in the middle and the senior grades, over the course of the year," it said.
Tata Consultancy Services will provide appropriate benefits, outplacement, counselling, and support to the impacted employees, it added the move comes at a time when India's top IT services companies have delivered single-digit revenue growth in first quarter fiscal 2026, capping off a somewhat sobering June quarter as macroeconomic instability and geopolitical tensions weighed on global tech demand and delayed client decision-making.
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