Indian IT Outsourcing Firms Cut 60,000 Jobs in First Layoffs in 20 Years

TCS, Infosys, and Wipro, India’s top three IT services companies, have collectively seen their workforce shrink for the first time in at least 20 years. The trio reported a combined reduction of more than 63,750 employees in the financial year ending March 31, 2024, as the industry grapples with a global economic slowdown and waning demand for IT services.