TCS shares dip 1.7% as it plans 12,000 job cuts in FY26 amid weak demand, tech shifts, and margin pressure.

• Layoffs target mid-to-senior staff; Citi, Jefferies see move as response to AI-led client shifts and slow growth.
• Analysts warn of execution risks and subdued earnings outlook; the sector faces structural changes and cautious sentiment.
• TCS stock down 23% YTD; average rating remains "buy" with median target price of ₹3,715.