Soham Parekh reacts to TCS layoffs, urges workers to upskill

Soham Parekh, the software engineer based in Mumbai, accused of holding multiple jobs simultaneously in several US start-ups, has reacted to the layoffs announced by the Tata Consultancy Services (TCS). He has urged workers not to wait for handouts but to take control and hone their skills to outwork the system.

“Don't wait for handouts. Learn fast. Build harder. Your skills are your leverage. Outwork the system. Outlearn the gatekeepers. Outbuild the giants,” stated Parekh in a post on X.

IT professionals react

His viral post has sparked a debate among professionals in the IT industry that is currently in a turbulent stage with large-scale layoffs and rapid changes with the advent of Artificial Intelligence (AI) and companies seeking to increasingly incorporate AI in the workflow.

According to a report in the Economic Times, while a section of IT professionals have termed Parekh’s comments as a blunt but timely reminder, others have questioned his credibility, pointing out that he has been previously accused of deceiving employers.

Also Read: TCS layoffs: 'Sholay days' of IT sector are over, says CP Gurnani

What TCS says on layoffs

Parekh’s comments come days after TCS announced plans to lay off around 12,000 employees, about 2 per cent of its global workforce, over the current financial year. TCS stated that the move is aimed at preparing a “future-ready organisation”.

It further stated that the layoffs will mostly affect mid and senior-level employees, adding that these roles cannot be restructured to meet “future demands”.

“Several reskilling and redeployment programs have been in progress. However, some associates will be released as their roles cannot be restructured to match future demands,” TCS said in a statement, adding that rehiring for these positions was unlikely.

Also Read: Not AI? TCS cuts 2 pc staff; here are other IT majors that slashed jobs

TCS's market value hit

TCS’s market evaluation showed a downward trend in the wake of the announcement, with the company reportedly losing Rs 28,148.72 crore over two days. According to media reports, TCS shares on Tuesday fell by 0.73 per cent to ₹3,056.55 on the BSE with a similar fall on the NSE.

While a section of industry observers have termed the planned layoffs as harsh, others have argued that this was inevitable with AI transforming job roles in the industry.

TCS, however, argued the decision is in response to several factors, including a mismatch of existing skills with emerging needs, and growing demand for AI and automation capabilities. The development comes at a time when the Indian IT giant is shifting its focus towards AI-driven solutions and a more agile workforce. TCS employs over 6.13 lakh people globally.