Share prices of IT stocks such as TCS, Infosys, Wipro, HCL Technologies, Tech Mahindra and Mindtree were trading with little change from their previous close, on Tuesday, amid yet another buzz of layoffs, this time at Capgemini. Cognizant Technology Solutions (CTS) was in the news for laying off employees and earlier, it was Wipro that reportedly "sacked" many employees.
On Tuesday, at around 10 am, TCS was up 0.60 percent at Rs 2,356, Wipro was flat at Rs 503, Infosys was up 0.33 percent at Rs 948, Tech Mahindra was up 0.49 percent at Rs 423 and Mindtree was flat at Rs 503.
Read: TCS, Infosys, Wipro go slow on hiring lane
The BSE Information Technology Index was up 0.44 percent as against the Sensex's 0.06 percent gain at around 10.06 am.
Cognizant Technology Solutions (CTS) was reportedly looking at layoff about 6,000 employees in India in the context of increasing hiring in the US.
Capgemini is also reportedly going the CTS way, though the company denied large-scale layoffs.
"The figures reported in the article published today – including the reference to Igate – are unfounded. We have not announced any lay off plan," the company said in a statement.
"Each year our employees are evaluated based on strict performance criteria in an objective process, consistent with industry norms, to ensure we are aligned with our customer needs, business priorities, and the overall industry evolution. This leads naturally to a varying number of employees transitioning out of the organization in any given year," Capgemini added.
In the fourth quarter (Q4) ended March 2017, TCS — India's largest IT services exporter — added 8,726 employees, followed by Wipro at 1,305 (IT services) while Infosys ended up adding just 601 employees, on a net basis.
