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explains what a geopolitically unstable Arab world could mean for India’s oil imports, and subsequently the economy. Tata Consultancy Services, one of the biggest employers in the private sector, saw a major deduction in its workforce during FY24. The Tata Group-owned company's employee count decreased by 13,249 from the previous year to 601,546.

The reduction in headcount is part of what TCS describes as a recalibration after years of heavy recruitment. Mint’s Jas Bardia, Varun Sood and Devina Sengupta spoke to TCS insiders who put the recent development as a response to record hirings in recent years. They also spoke to analysts and industry insiders who see the downturn in TCS’s workforce as a sign of delay in demand inflection for the industry.

Last week, the company announced its results for the last quarter of FY24. The company's consolidated revenue from operations reached ₹61,237 crore, marking a 3.5% year-on-year increase. TCS’s rival Infosys reported its quarterly results this week.

The Bengaluru-based IT company’s revenue increased by only 1.4% over the previous financial year. Its FY25 doesn't look much better either: revenue is likely to grow less than 3%. Analysts remain disappointed, write Shouvik Das and Jas Bardia.

A marginal increase in revenue, lower profit, and poor projections: the situation is not kind for Infosys right now. Tata Electronics has sealed a deal with Elon Musk’s EV manufacturer Tesla to produce crucial components for the car company. This partnership marks a significant boost for Tata in the electronics manufacturing space.