TCS share price today: Tata Consultancy Services stock drops almost 2%; IT giant announces 12,000 layoffs

TCS share price today: Tata Consultancy Services (TCS) shares dropped by 1.7% to reach Rs 3,081.20 during intraday trading on BSE on Monday, after India’s largest IT services firm announced that it will be laying off over 12,000 employees this year.At 9:55 AM, shares of TCS were trading at Rs 3,092.60, down Rs 43.20 or 1.38%.TCS reported a global workforce of 613,069 employees at the close of June 2025. The IT giant issued a statement indicating that the staff reductions would mainly affect middle and senior level positions, as part of their strategy to adapt to future business requirements.It said that current market conditions have made it unfeasible to maintain deployment levels for certain associates.TCS has assured that the restructuring process is being handled with care to maintain uninterrupted client services. Staff members affected by these changes will receive their complete notice period remuneration and additional departure benefits. The company will also provide extended insurance coverage, career transition support, counselling services, and assistance during the transition period.TCS faces legal challenges from employees regarding their new “bench policy” implementation. The policy stipulates that employees can remain unassigned for only 35 days annually before facing performance evaluations, whilst requiring 225 billable days per year.The IT sector is experiencing a deceleration in growth. Data from ET indicates that recruitment amongst the six leading Indian IT companies declined by over 72% during the April-June quarter, with new appointments dropping to 3,847 from 13,935 in the previous quarter.TCS maintains its focus on strategic objectives, despite the workforce reduction. These include advancing in emerging technologies, expanding market presence, implementing AI solutions, strengthening partnerships, and enhancing infrastructure capabilities.TCS shares remained stable at Rs 3,134.35 on the BSE on Friday.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)