Oracle recently laid off a significant portion of its Indian workforce, sparking widespread debate. This move is more than just a cost-cutting measure; it signals a deep, structural shift in the global tech industry, driven by AI ambitions and fierce market competition.
India's largest IT services firm, TCS, is set to reduce its workforce by 2%, impacting over 12,200 employees. We analyze the reasons behind this strategic shift and its implications for the Indian IT sector's future.
Indian benchmark indices extended their losing streak for the fourth consecutive session on Monday, as a combination of weak global cues, a struggling IT sector, and persistent foreign fund outflows rattled investor confidence.
The Indian stock market witnessed a sharp downturn on Friday, with the Sensex and Nifty plummeting after IT major TCS reported disappointing Q1 revenue figures. The weak performance from the tech giant sparked a sell-off in the IT sector and soured overall market sentiment.
