TechM denies social media rumours of mass layoffs

New Delhi: IT major Tech Mahindra on Monday denied social media rumours that it plans a large scale job cut, saying no such proposal is under consideration. “The company has received calls and has noted certain social media posts regarding a market rumour of a potential significant reduction in headcount,” the company said in an exchange filing. “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 denies any such market rumours,” it said. Certain posts were circulating on platforms such as X, which alleged cuts affecting as many as 30,000 employees.