Tata Consultancy Services (TCS) has been at the center of a string of negative headlines lately. The IT major has confirmed laying off over 12,000 employees in the current financial year, just weeks after rolling out a controversial new benching policy. The announcement has fueled concerns online, with many predicting a tough road ahead for those impacted, especially amid growing fears that the rapid adoption of AI could further shrink opportunities in the already uncertain tech job market.
Users have started a thread on Reddit to predict the future of these 12,000 laid off TCS employees. To the question 'What will those 12,000 laid-off TCS employees will do now?', a user has replied, "You can broadly bucket them into two categories - need to find work desperately due to no savings and debt and expenses and not need to find work desperately."
The user says that folks who are desperate will probably end up working on contracts or take paycuts and work in support or night shift kind of roles. They could also take up openings in other cities, where there isn't enough local talent.
"Others will not want to take paycuts and stay unemployed for a few months or so and eventually retire (forced retirement) or after a few months end up becoming desperate," the user added.
Another user broke down the laid-off TCS employees into age groups. He said that all employees above 50 will most likely drop out of the workforce. For people aged 45 and above, only 20 percent will find another job out of which 50 percent will quit in a few years. For people aged 40 to 45, 50 percent will find something, while the other 50 percent is likely to remain unemployed.
For those aged 30 to 40 are likley to find another job, the user says, but they will never take a loam for a house or car and burden themselves with an EMI ever in their lives. The Reddit user says that TCS employees that are aged between the 20-30 bracket are likely to get a second chance in life to be serious about upskilling.
Earlier reports suggested that TCS was firing mid-to-senior level employees only, but new reports suggest that TCS is now firing freshers from its Ahmedabad and Pune office as well.
