Tech Mahindra denies viral social media claims about major workforce layoffs globally.
Company says no proposal exists for headcount reduction, rejecting market rumours completely.
Speculation linked layoffs to AI adoption despite company focusing productivity improvements instead.
Tech Mahindra Denies Social Media Claims of Major Layoffs—Here’s What We Know
Tech Mahindra dismisses viral social media claims suggesting large-scale layoffs across its workforce
Tech Mahindra denies widespread social media rumours about layoffs.
Summary
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Tech Mahindra dismissed the market speculations related to a major job cuts in an exchange filing on March 9. The company has confirmed that ‘certain social media posts’ citing these headcount reduction plans are completely false.
In the official declaration on market rumour, the IT services company clarified that the company is not associated with speculations of potential major layoffs. The company stated that it felt necessary to address the speculation.
“The Company has received calls and has noted certain social media posts regarding a market rumour of a potential significant reduction in headcount. In view of the above speculation, the Company on its own accord considers it necessary to clarify to the Stock Exchanges that no such proposal is under consideration and categorically denies any such market rumours,” the official document stated.
The company has complied with and continues to comply with the relevant disclosure norms under the SEBI Listing Regulation, stated the official clarification.
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The clarification comes after several posts on social media platform X indicated that the company could reduce its workforce significantly. Other users on X have also posted about potential layoffs at Tech Mahindra, signalling that this may be a direct impact of AI integration in global tech firms.
Social Media Sparks Speculation
A widely circulated post claimed that as many as 30,000 employees could be laid off, with the alleged move linked to increasing adoption of artificial intelligence across the technology sector.
The management had previously stated that the company is concentrating on increasing productivity in fixed-price projects rather than making layoffs.
Latest quarterly data from Tech Mahindra suggests the company employs almost 1.5 lakh people globally, a number that has remained more or less stable, according to reports.
Instead of cutting staff, this involves reassigning workers from finished or underutilised projects to new tasks. The explanation also coincides with Tech Mahindra's increased expenditures on digital transformation and artificial intelligence.
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In an effort to speed up enterprise data modernisation and telecom, the company recently announced a partnership with Microsoft to introduce an ontology-driven Agentic AI platform.
The project is a component of Tech Mahindra's larger effort to incorporate AI capabilities into telecom and enterprise services.