New Delhi, Jul 29 (PTI) Tata Consultancy Services (TCS) has lost Rs 28,148.72 crore from its market valuation in two days after the company announced that it will lay off about 12,000 employees of its global workforce this year.

On Tuesday, the bellwether stock declined 0.73 per cent to settle at Rs 3,056.55 apiece at the BSE. During the day, it dropped 1.23 per cent to Rs 3,041.

On the NSE, it dipped 0.72 per cent to Rs 3,057.

Shares of TCS had declined nearly 2 per cent on Monday.

The stock has lost 2.48 per cent in two trading days.

The market capitalisation (mcap) of TCS eroded by Rs 28,148.72 crore to Rs 11,05,886.54 crore in two days.

India's largest IT services firm TCS is set to lay off about 2 per cent, or 12,261 employees, of its global workforce this year, with the majority of those impacted belonging to middle and senior grades.

As of June 30, 2025, the TCS workforce stood at 6,13,069. It increased its workforce by 5,000 in the recently concluded June quarter.

The move is part of the company's broader strategy to become a "future-ready organisation", focusing on investments in technology, AI deployment, market expansion, and workforce realignment, TCS said in a statement.

"Towards this, a number of reskilling and redeployment initiatives have been underway. As part of this journey, we will also be releasing associates from the organisation whose deployment may not be feasible. This will impact about 2 per cent of our global workforce, primarily in the middle and the senior grades, over the course of the year," it said.

TCS will provide appropriate benefits, outplacement, counselling, and support to the impacted employees, it added The move comes at a time when India's top IT services companies have delivered single-digit revenue growth in Q1FY26, capping off a somewhat sobering June quarter as macroeconomic instability and geopolitical tensions weighed on global tech demand and delayed client decision-making. PTI SUM SUM SHW

Workforce realignment announced, with targeted middle- and senior-grade reductions to support tech and AI investment. A major IT services firm announced a planned reduction of about 2% of its global workforce-approximately 12,261 roles, mainly in middle and senior grades-citing workforce realignment to enable technology and AI investments, market expansion and redeployment priorities. The company highlighted ongoing reskilling and redeployment efforts and committed to providing benefits, outplacement, counselling and support to impacted employees. The announcement coincided with single-digit sector revenue growth and was reported to have eroded the firm's market capitalisation over two trading days.