AI
As firms pivot, AI-led layoffs here to stay
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Thousands have been laid off since the beginning of the year globally as companies look to realign workforces in the age of AI. India is no exception and the trend is likely to continue, experts said.
According to Layoffs. fyi, which tracks employee retrenchments globally, jobs have been lost since the beginning of the year at companies such as Microsoft, Intel, HP and Meta.
In India, TCS said last month that 2% of its workforce, about 12,000 people, will be asked to go. Oracle is retrenching employees in phases, said people aware of the matter.
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