Following Accenture, TCS is also Restructuring its workforce for the AI ​​era

Following Accenture PLC, Tata Consultancy Services Ltd. (TCS) is also restructuring its workforce to better adapt to the rapidly evolving AI-driven world. According to a report published in Moneycontrol on October 2, 2023, TCS is offering severance pay of up to two years to employees whose skills no longer match the company’s needs.

This is part of a broader workforce restructuring initiative. The severance package includes three months’ notice period pay and a severance payment ranging from six months’ to two years’ salary, depending on the employee’s length of service with the IT services firm.

Employees who have been on the “bench” (without assigned projects) for more than eight months are being offered a simplified package of just three months’ notice period pay. Additionally, for employees with over 15 years of experience, TCS is offering career transition support and, in some cases, an early retirement option.

Also Read: Accenture layoffs 11,000 Employees; More Job Cuts Likely due to AI-driven Workforce Transformation