IT layoffs cloud recovery hopes as consumption firms brace for slowdown

India’s consumption-driven recovery may face fresh headwinds as rising job cuts in the information technology (IT) sector trigger concerns over discretionary spending, reported TOI.

With Tata Consultancy Services (TCS) recently confirming over 12,000 layoffs and industry body Nasscom indicating more job losses ahead, consumer-facing companies are preparing for a possible slowdown in demand, particularly for apparel, fashion, electronics, and other non-essentials.