New Delhi . A total of 24,422 employees have been reduced in the top 6 IT and engineering companies of India in the last one year. According to staffing firm
This decline has been seen in India's TCS, Infosys, HCL Tech, Wipro, Tech Mahindra, and LTI Mindtree companies. A total of 92,000 employees exited these companies in the last one year. Companies did not fully fill vacant positions and hired only 68,000 new employees. Due to this, the total workforce of these companies has decreased by about 3% to 7,97,722 in October 2026 as compared to 8,22,144 employees in October 2025.
Two main reasons for decline in jobs
According to experts and staffing firms, AI is the main reason behind this. According to experts, traditional IT roles like application maintenance, manual testing, infrastructure support are being taken over by AI itself. There are very few new recruitments in these. The second reason is that in the weak global growth environment, companies are reducing the number of their employees who are not part of any active client project. This is not affecting the income of the companies but the expenses are definitely decreasing.
Barclays will remove 5,000 people, Rs 12,323 crore will be saved annually
Barclays Bank is to cut around 5,000 jobs globally to reduce its expenses. Following the bank's mixed third quarter results and decline in trading revenue, the bank has decided to rapidly increase the use of AI and automation to reduce costs.
Those the bank will lay off will mainly include employees in back-office, support and middle-management roles. The bank is implementing AI-based technologies on a large scale to handle routine and data-related tasks at lower costs. With this layoff, Barclays will save Rs 12,323 crore ($1.3 billion) annually.
AI-based layoffs will have a direct impact on India, as India is the second largest global center of this British bank. In fact, with AI increasingly handling code writing and basic tech tasks, banks now need fewer developers.