TCS shares decline nearly 2% on layoff announcement

New Delhi: Shares of Tata Consultancy Services (TCS) declined nearly 2 per cent on Monday after the company announced that it will lay off about 12,000 employees of its global workforce this year.

TCS shares decline nearly 2 pc on layoff announcement

At the NSE, it went lower by 1.7 per cent to Rs 3,081.60.

India’s largest IT services firm TCS is set to lay off about 2 per cent, or 12,261 employees, of its global workforce this year, with the majority of those impacted belonging to middle and senior grades.