India, July 28 -- Shares of Tata Consultancy Services (TCS) dropped nearly 2% on Monday after the company revealed plans to cut around 12,000 jobs this year, citing the need to future-proof operations. On the BSE, the stock declined 1.69% to Rs.3,081.20, while on the NSE, it slipped 1.7% to Rs.3,081.60 in the morning.

As of 1.07 pm, TCS shares are trading at Rs.3,096.10 on the NSE and Rs.3,096.00 on the BSE.

India's largest IT services company is set to reduce around 2% of its global workforce - approximately 12,261 employees - mostly from middle and senior management levels. TCS clarified that those being let go are in roles where redeployment is not feasible.

As of June 30, 2025, the company employed 6,13,069 people, having added 5,0...