TCS to cut 2% of workforce, affecting around 12,000 jobs

Tata Consultancy Services (TCS) plans to lay off approximately 2% of its workforce, impacting over 12,000 employees, due to macro uncertainties and AI-driven disruptions. The company will provide severance packages, outplacement services, and extended benefits to affected employees. This decision follows a decline in job additions across major IT firms and strategic initiatives by TCS to realign its workforce.