Top News

Mumbai, Oct 8 (IANS) Tata Consultancy Services (TCS) has called off its scheduled press conference to announce its Q2 FY26 earnings results, citing the anniversary of Ratan Tata as the reason.

The IT bellwether confirmed that the cancellation was due to the date coinciding with the death anniversary of Ratan Tata, the former Chairman of Tata Sons and a towering figure in the Tata Group.

While the press event slated for October 9 has been scrapped, the company's analyst call, where the financial performance and management commentary are shared, is set to proceed as planned.

The cancellation of the press conference is unlikely to impact investor relations significantly, given that the analyst call, which provides the more focused details on financial performance and forward-looking statements, remains intact.

Amid the H-1B visa fee hike, the Q2 results are highly anticipated, as they will provide a key indicator of demand in the global IT sector.

Moreover, investors will also look for any recovery in discretionary spending in the IT giant, particularly from the US and European markets.

Further, the focus is also set to be on how it is managing ongoing challenges in specialised staffing and cautious client spending.

Earlier, TCS announced to lay off around 12,200 employees, or 2 per cent of its global workforce, in FY26.

The IT giant which has a total headcount of 6.13 lakh employees as of June 2025, plans to implement the layoffs across various domains and geographies. In a statement, the company said the layoffs would primarily impact middle and senior grades.

TCS described the decision as “one of the toughest” he had to make and said it is aimed at making the company "future-ready and agile" in the face of rapidly evolving technologies and workplace models.

The company is offering severance packages, extended insurance, notice period pay, and placement assistance in finding alternative job opportunities, according to the reports.

—IANS

na/