Tech Mahindra’s 30,000 layoff claims go viral, company calls it false

Tech Mahindra Ltd. provides clarity on claims of over 30,000 layoffs, saying the rumours are false. The company revealed in its exchange filing on March 9 that it is not planning any major workforce reduction.

In the filing, Tech Mahindra pointed to “certain social media posts” spreading rumours about layoffs, and clarified that the reports are baseless and that they do not reflect the company’s current operational plans. 

Tech Mahindra said, “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 statement follows a series of posts on X ( formerly Twitter) that stated that the company has been planning a massive layoff drive. One of the shared posts also claimed that about 30,000 employees could be impacted due to a major shift to Artificial Intelligence (AI) integration across operations.

Therefore, Tech Mahindra is not planning any job reduction as of now. Based on its latest quarterly data, the company currently has 1.5 lakh employees globally. In addition, the company also clarified last quarter that it is boosting efficiency in fixed-price projects by shifting staff from those assignments and redeploying them to new work.

Recently, Morgan Stanley announced nearly 2500 job cuts, affecting about 3% of its global workforce. Jack Dorsey-led Block also cuts over 4,000 jobs, whereas Amazon conducted its second major layoff in 2 months of time, affecting nearly 15,000 jobs.

As tech layoffs have become a common fear, rumours about large-scale job cuts often spread quickly, especially on social media. This prompts companies to step in and provide clarity on their workforce plans.