Tech Mahindra denies social media rumours of mass layoffs
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New Delhi, March 9 : IT major Tech Mahindra on Monday denied social media rumours that it plans a large‑scale job cut, saying no such proposal is under consideration.
"The company has received calls and has noted certain social media posts regarding a market rumour of a potential significant reduction in headcount," the company said in an exchange filing.
"In view of the above speculation, the company on its own accord considers it necessary to clarify to the Stock Exchanges that no such proposal is under consideration and categorically denies any such market rumours," it said in the filing complying with the disclosure norms.
Certain posts were circulating on platforms such as X, which alleged cuts affecting as many as 30,000 employees.
Tech Mahindra, which employs around 1,50,000 people worldwide, recently announced a collaboration with Microsoft to launch an ontology‑driven Agentic AI platform aimed at accelerating telecom and enterprise data modernisation.
The company had in the previous quarter announced that mass layoffs are not under consideration, but it is focusing on productivity measures that include moving staff out of fixed‑price projects and redeploying them into new projects.
Morgan Stanley in a recent report had suggested that long-term impact of AI on jobs may be less severe than many expect.
According to the report, while some roles will be automated, most workers are unlikely to be permanently left behind. Instead, many are expected to shift into new types of jobs, including roles that do not yet exist. The bank said artificial intelligence will change the nature of work rather than eliminate it entirely.
Several tech industry leaders have said that most white‑collar roles that rely on computers could be automated within the next 12 to 18 months
US tech giant Oracle plans to cut 20,000 to 30,000 jobs to expand its AI data‑centre capacity, while Amazon recently announced lay off 16,000 employees as part of its AI restructure plan.
—IANS
aar/na
"The company has received calls and has noted certain social media posts regarding a market rumour of a potential significant reduction in headcount," the company said in an exchange filing.
"In view of the above speculation, the company on its own accord considers it necessary to clarify to the Stock Exchanges that no such proposal is under consideration and categorically denies any such market rumours," it said in the filing complying with the disclosure norms.
Certain posts were circulating on platforms such as X, which alleged cuts affecting as many as 30,000 employees.
Tech Mahindra, which employs around 1,50,000 people worldwide, recently announced a collaboration with Microsoft to launch an ontology‑driven Agentic AI platform aimed at accelerating telecom and enterprise data modernisation.
The company had in the previous quarter announced that mass layoffs are not under consideration, but it is focusing on productivity measures that include moving staff out of fixed‑price projects and redeploying them into new projects.
Morgan Stanley in a recent report had suggested that long-term impact of AI on jobs may be less severe than many expect.
According to the report, while some roles will be automated, most workers are unlikely to be permanently left behind. Instead, many are expected to shift into new types of jobs, including roles that do not yet exist. The bank said artificial intelligence will change the nature of work rather than eliminate it entirely.
Several tech industry leaders have said that most white‑collar roles that rely on computers could be automated within the next 12 to 18 months
US tech giant Oracle plans to cut 20,000 to 30,000 jobs to expand its AI data‑centre capacity, while Amazon recently announced lay off 16,000 employees as part of its AI restructure plan.
—IANS
aar/na
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