News Summary:
On April 24, 2026, Tech Mahindra was part of a collective workforce reduction by India’s top five IT firms, which cut nearly 7,000 jobs in FY26. This contributed to a combined net headcount decline of 7,389 employees across major IT companies including TCS, Infosys, HCLTech, Wipro, and Tech Mahindra, reflecting AI-driven efficiency and subdued demand. Earlier the same day, Tech Mahindra opened its Communications Experience Center (CEC) in Pune. This hub aims to help Communications Service Providers (CSPs) co-create growth solutions and transform operations, customer experience, and business models through AI-led innovation. Previously, also on April 24, 2026, the company reported its financial highlights for FY26, with revenue reaching USD 6,385 million, an increase of 1.9% year-over-year in reported terms and 0.6% in constant currency. Earnings Before Interest and Taxes (EBIT) rose to USD 797 million, up 31.4% year-over-year, resulting in an EBIT margin of 12.6%.
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