Tech Mahindra denies layoff buzz, says no proposal under consideration

Tech Mahindra has denied social media claims that it plans large-scale layoffs, clarifying in an exchange filing that no such proposal is under consideration amid speculation of a 30,000 cut

The IT services business unit of the Mahindra & Mahindra group, Tech Mahindra, denied the social media buzz that the firm plans a reduction in its employee base.

 

In an exchange filing, the company said, “In view of the speculation, the Company on its own accord considers it necessary to clarify to the Stock Exchanges that no such proposal is under consideration and categorically denies any such market rumours.”

 

Social media was abuzz with news that the firm plans to lay off almost 30,000 employees.

 

One of the posts on X said: “Massive layoffs at Tech Mahindra. Around 30k employees may be shown the door, which is a staggering number. Is this the impact of AI or the ripple effect of the Iran war?”

 

 

According to the firm’s third-quarter results, total headcount of the firm was at 149,616, down 872 employees. The management of the company post the results had stated that fresher hiring for FY26 will be lower than FY25, largely due to the demand environment. In FY25 Tech Mahindra had onboarded 6,000 freshers.

 

Mohit Joshi, CEO & MD of the company, on the falling headcount, had said that the drop is more because of efficiency due to more fixed-priced contracts. “Two or three per cent drop in headcount is not a big number. I think we are quite clear that we see our fixed-price programs as one huge area where we can drive a lot of efficiency,” said Joshi.