Tech Mahindra Ltd. has addressed rumours of over 30,000 layoffs, clarifying that the claims are false. In its exchange filing on March 9, the company stated that it has no plans for any major workforce reduction.
The filing cited “certain social media posts” that spread these rumours, noting that the reports are baseless and do not reflect Tech Mahindra’s current operational plans. The company emphasized, “No such proposal is under consideration and we categorically deny any such market rumours.”
The clarification follows posts on X (formerly Twitter) suggesting a large-scale layoff due to AI integration, which claimed that around 30,000 employees could be affected. Tech Mahindra currently employs approximately 1.5 lakh people globally and has indicated that staff from fixed-price projects are being redeployed to new assignments to boost efficiency, rather than being laid off.
This statement comes amid broader tech industry layoffs, including Morgan Stanley cutting nearly 2,500 jobs (about 3% of its workforce), Block reducing over 4,000 positions, and Amazon conducting its second major layoff in two months, impacting nearly 15,000 employees.
As fears of tech layoffs grow, misinformation can spread quickly on social media, prompting companies like Tech Mahindra to clarify their workforce plans to reassure employees and investors.
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