- Tech Mahindra denied social media rumors about large-scale layoffs recently circulating online
- The company confirmed no plans exist to reduce workforce or initiate fresh layoffs at this time
- Rumours suggested up to 30,000 employees could be affected due to AI integration
Indian IT firm Tech Mahindra Ltd. has issued a rebuttal to recent rumours on social media claiming that the company is poised to significantly reduce their overall workforce, as part of fresh new layoffs.
In an exchange filing on Monday, Tech Mahindra has confirmed that 'certain social media posts' citing these headcount reduction plans are totally false and that no such move is under consideration.
"The company, on its own accord, considers it necessary to clarify to the Stock Exchanges that no such proposal is under consideration and categorically denies any such market rumours," the company said in the exchange filing.
Tech Mahindra's clarification comes on the back of viral posts on social media sites like X, with one user notably claiming that about 30,000 employees might be shown the door, in what could be a potential impact of AI.
Other users on X have also posted about potential layoffs at Tech Mahindra, signalling that this may be a direct impact of AI integration in global tech firms.
Tech Mahindra, for its part, has recently announced a collaboration with Microsoft to launch an ontology-driven Agentic AI platform, which is aimed at accelerating telecom and enterprise data modernisation.
That being said, the company is not planning any major reduction in headcount. Latest quarterly data from Tech Mahindra suggests the company employs almost 1.5 lakh people globally, a number that has remained more or less stable.
The management of Tech Mahindra clarified in the last quarter that while the company is not laying off people, they are driving productivity in fixed-price projects by driving people out of that project and redeploying them into new work.
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