New Delhi, March 9 (IANS). Tech Mahindra, a big company in the IT sector, has rejected the news of mass layoff of employees going on social media. The company clarified that at present no such proposal is under consideration.
In the information given to the stock exchange, the company said that it has received information about some calls and social media posts, in which there is talk of reducing the number of employees in the company on a large scale.
Tech Mahindra said that in view of these speculations, the company itself considered it necessary to clarify that no such plan is being considered and such reports circulating in the market are completely wrong.
Some posts were going viral on social media platform X, claiming that the company may lay off around 30,000 employees.
Tech Mahindra employs about 1.5 lakh employees worldwide. Recently the company has announced the launch of a new ontology based agentic AI platform in collaboration with Microsoft, which aims to accelerate data modernization in the telecom and enterprise sectors.
The company had also said in the last quarter that there are no plans for large-scale layoffs. However, the company is working on measures to increase productivity, which include removing some employees from fixed price projects and deploying them to new projects.
Meanwhile, a recent report from Morgan Stanley says that the long-term impact of AI on jobs may not be as severe as many people believe.
According to the report, some work may definitely be automated, but most of the employees will not be permanently unemployed. Many people will go into new types of jobs, some of which don’t even exist yet. According to the bank, Artificial Intelligence will change the nature of work, but will not eliminate it completely.
Many tech industry leaders say most white-collar jobs based on computers could fall under automation in the next 12 to 18 months.
Meanwhile, American tech company Oracle plans to cut 20,000 to 30,000 jobs to increase AI data center capacity. At the same time, Amazon has also recently announced the layoff of 16,000 employees as part of its AI restructuring plan.
–IANS
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