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AI Push Drives Record Job Cuts at Top India Private Employer TCS
Tata Consultancy Services (TCS) significantly reduced its workforce by cutting 19,755 employees in the September quarter, marking its steepest job cuts ever. This reduction, which includes both terminations and voluntary departures, brought the company's employee count below 600,000 for the first time since March 2022. The IT services sector in India is undergoing a transformation due to strained US relations and the rapid advancement of artificial intelligence. TCS also recorded a provision of $128 million for severance-related expenses during this period.