In response to challenging economic conditions last year, several companies are sending employees home, with the top four companies collectively laying off nearly 50,000 workers. The latest financial reports for the third quarter of 2023-24 reveal varied outcomes, with TCS and HCL seeing modest profits, while Wipro and Infosys grapple with losses.
This financial turbulence is now impacting the job security of thousands of employees. Industry giants like Google and Amazon have already initiated layoffs early in the year, marking a concerning trend. The ongoing layoffs across the top four companies in India are staggering, affecting 50,875 individuals.
TCS is letting go of 10,669 employees, Infosys 24,182, Wipro 18,510, and HCL Technologies 2,486. The anticipation of improved conditions has left employees disheartened, especially as 46 IT and tech companies have collectively laid off around 7,500 employees, with expectations of further layoffs by February.
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