IT layoffs cast a shadow on home sales in key hubs
The sporadic layoffs in information technology (IT) firms seemingly have dampened the residential real estate sentiments in key IT hubs such as Pune, Bengaluru and Hyderabad, pushing unsold inventory up and sales downwards in these cities.
Among others, US-based IT company Oracle recently laid off 12,000 staff in the country and more cuts likely to happen, reports said. The country’s largest IT services firm Tata Consultancy Services (TCS) reduced its staff strength by 23,460 in FY26.
