Mumbai, Oct 8
Tata Consultancy Services (TCS) has called off its scheduled press conference to announce its Q2 FY26 earnings results, citing the anniversary of Ratan Tata as the reason.
The IT bellwether confirmed that the cancellation was due to the date coinciding with the death anniversary of Ratan Tata, the former Chairman of Tata Sons and a towering figure in the Tata Group.
While the press event slated for October 9 has been scrapped, the company's analyst call, where the financial performance and management commentary are shared, is set to proceed as planned.
The cancellation of the press conference is unlikely to impact investor relations significantly, given that the analyst call, which provides the more focused details on financial performance and forward-looking statements, remains intact.
Amid the H-1B visa fee hike, the Q2 results are highly anticipated, as they will provide a key indicator of demand in the global IT sector.
Moreover, investors will also look for any recovery in discretionary spending in the IT giant, particularly from the US and European markets.
Further, the focus is also set to be on how it is managing ongoing challenges in specialised staffing and cautious client spending.
Earlier, TCS announced to lay off around 12,200 employees, or 2 per cent of its global workforce, in FY26.
The IT giant which has a total headcount of 6.13 lakh employees as of June 2025, plans to implement the layoffs across various domains and geographies. In a statement, the company said the layoffs would primarily impact middle and senior grades.
TCS described the decision as "one of the toughest" he had to make and said it is aimed at making the company "future-ready and agile" in the face of rapidly evolving technologies and workplace models.
The company is offering severance packages, extended insurance, notice period pay, and placement assistance in finding alternative job opportunities, according to the reports.
— IANS
Reader Comments
While I respect the sentiment, cancelling the press conference seems more like a PR move. They're laying off 12,000+ employees but worried about a press conference timing? The analyst call is still happening, so investors get their data anyway.
Ratan Tata sir was truly inspirational. Remember how he stood by employees during 26/11 attacks and always put people before profits. This gesture shows Tata values are still alive in the group. #Respect
As someone working in the IT sector, I'm more concerned about the 12,200 layoffs mentioned. The H-1B fee hike and cautious client spending are creating real challenges. Hope TCS manages this transition well for affected employees.
Typical Tata culture - they never forget their roots and the people who built the empire. In today's cut-throat corporate world, this gesture is refreshing. Ratan Tata would be proud to see his legacy being honored this way.
The layoffs are concerning, but at least TCS is offering severance packages and placement assistance. Many companies don't even do that. The IT sector is going through massive transformation globally.
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