Layoff shock: ‘TCS staff go job hunting’

Tata Consultancy Services’ (TCS) decision to lay off 12,000 staff is only the tip an iceberg of a tech bloodbath expected in the IT services industry in India and globally in coming quarters, say some observers.

Reliable industry sources said some TCS divisions saw a lot of internal churn in the last two months. As a result, there was some voluntary attrition in July plus involuntary attrition of 12,000. As a result, in the last 30 days, 1.51 lakh of the over-four-lakh staff have started actively looking for alternative job options on Naukri, alone.