Indian software services giant to lay off 12,000 people.

According to reports, Indian consulting company Tata Consultancy Services (TCS) announced on July 27th local time that due to shrinking industry demand, the company will be laying off approximately 2% of its global workforce, around 12,000 jobs. The report stated that this Indian software services giant mentioned that the layoffs will mainly affect middle and senior level employees and will be implemented within the year. The IT services industry is one of India's main sources of income, and TCS has 613,000 employees worldwide. The company stated that this move is to enter new markets and expand the scale of artificial intelligence applications.