Tech Mahindra rubbishes market speculation on significant cut in headcount

IT services company Tech Mahindra on Monday strongly denied market speculations around a possible significant reduction in headcount.

Given the speculation, Tech Mahindra said it finds it necessary to clarify that no such proposal is under consideration.

The company cited calls and certain social media posts regarding a "market rumour" of a potential significant reduction in headcount.

"The company has received calls and has noted certain social media posts regarding a market rumour of a potential significant reduction in headcount.

"In view of the above 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," it added.