TCS declares Nashik WFH; Wipro Q4 results
Tata Consultancy Services has moved staff to work from home amid an ongoing investigation at its Nashik office. This and more in today’s ETtech Top 5.
Also in the letter:
■ India-made Apple parts fuel China surge
■ Snap Inc trims workforce
■ Nvidia chief owns a big “miss”
TCS asks employees at Nashik office to work from home for safety reasons, women’s organisations hold protest
Tata Consultancy Services (TCS) has told employees at its Nashik facility to temporarily work from home, citing “safety and convenience” as probes into serious workplace allegations gather pace.
Driving the news: Nashik Police have reached out to multiple agencies, including the National Investigation Agency and the Anti-Terrorism Squad, and state intelligence units.
However, police commissioner Sandeep Karnik clarified: “There is no evidence so far supporting claims of extremist links or foreign funding.”
Tracking the case:
- The police have registered nine FIRs.
- They have arrested eight employees, including seven men and one female operations manager.
- Several of those arrested, authorities said, held supervisory roles, raising concerns about abuse of power.
- The probe picked up speed after a Special Investigation Team (SIT) was formed and multiple women employees came forward following police counselling.
- Amid the fallout, NITES also approached the Ministry of Labour and Employment seeking a detailed audit of PoSH compliance at TCS.
- The seven male accused are named in multiple complaints, which suggests they may have acted as an organised group.
- Allegations include sexual harassment, workplace intimidation and attempts at forced religious conversion.
Also Read: TCS headcount fell by 23,460 in FY26; but no more layoffs for now: Sudeep Kunnummal, CHRO
Industry ripple effects: Tata Sons chairman N Chandrasekaran called the allegations “gravely concerning and anguishing”. The case has already set off wider soul-searching across the IT sector.
“This incident is an eye opener and could be a turning point of how the IT industry takes PoSH cases going forward,” said Pareekh Jain, CEO of online information platform EIIRTrend.
What else? Raheel Patel, partner at Gandhi Law Associates, said the risk now goes beyond individual misconduct and includes systemic lapses under the Sexual Harassment of Women at Workplace (Prevention, Prohibition, and Redressal) Act, 2013.
Wipro Q4 Results: Profit falls 2% YoY to Rs 3,502 crore; revenue rises 8%
Srini Pallia, CEO, Wipro
IT services major Wipro on Thursday reported its March quarter numbers.
- Consolidated net profit: fell 2% year-on-year (YoY) to Rs 3,502 crore.
- Revenue from operations: rose 8% YoY to Rs 24,236 crore.
- Total expenses: rose 6% YoY at Rs 20,125 crore.
- Total deal bookings: $3.46 billion, up 3.2% sequentially.
The board cleared a Rs 15,000 crore buyback alongside its financial results.
Quote, unquote: “Advancements in AI are reshaping client priorities and creating new opportunities for us to partner more deeply to deliver value-driven outcomes. To strengthen our position in an AI-first world, we are pivoting to a services-as-a-software model through the AI Native Business & Platforms unit,” said Wipro chief executive Srini Pallia.
New acquisition: Wipro has signed a final agreement to acquire selected customer contracts of Alpha Net Consulting LLC and its subsidiaries.
- Deal value: up to $70.8 million in cash.
- Wipro gains access to key clients, customer contracts, and associated employees from the Alpha Net group.
- The transaction includes deferred payments tied to performance targets and is expected to close by 30 June.
India’s Apple component exports to China surge to record $2.5 billion under ECMS scheme
Tim Cook, CEO, Apple
Apple’s suppliers have exported a record $2.5 billion worth of components and sub-assemblies to China so far in FY26.
Expert take: Experts say the sharp rise in electronics exports to China is an unexpected benefit of the Production-Linked Incentive (PLI) scheme and the ECMS programme. These policies have helped build a strong local supply chain that meets global quality standards and now feeds components into China.
This marks a shift: India is exporting more parts instead of relying on imports from China.
Tell me more: Under the PLI scheme, Apple has manufactured iPhones worth $70 billion over five years, with $51 billion worth exported, mostly to the US. iPhones have now become India’s top export product by value in the last fiscal year.
By the numbers:
- Electronics exports to China could touch $3.5 billion in FY26.
- Exports had already reached $2.8 billion by January.
- FY25 exports were around $920 million.
- India’s total exports to China may cross $18 billion in FY26, up from $14.25 billion inFY25.
Also Read: India prepares smartphone export incentives in a boost for Apple
Snap layoffs: CEO Evan Spiegel cites productivity gains from AI adoption in note to employees
Evan Spiegel, CEO, Snap Inc
Snap Inc, the parent company of Snapchat, plans to cut 1,000 jobs, or about 16% of its full-time staff.
Tell me more: The company announced the layoffs on Wednesday and will also close more than 300 open roles. It said it will support affected employees.
- In the US, laid-off staff will receive four months of pay, continued health insurance, vested equity, and help with job placement.
- Outside the US, benefits will vary by local laws, but aim to offer similar support.
The AI effect: Snap joins a growing list of tech firms trimming headcount as artificial intelligence boosts productivity and reduces the need for some roles.
CEO Evan Spiegel flagged AI as a key force reshaping work. He said that AI tools are changing how teams operate by automating repetitive tasks, speeding up workflows, and improving services for users, partners, and advertisers.
Nvidia’s Jensen Huang admits he erred in not backing OpenAI, Anthropic early on
Jensen Huang, CEO, Nvidia
Nvidia CEO Jensen Huang admitted that the company missed early chances to invest in OpenAI and Anthropic in a conversation with podcaster Dwarkesh Patel.
Huang’s explanation: He said Nvidia was not ready then to make multi-billion-dollar bets on AI labs like Anthropic. In contrast, companies such as Google and Amazon Web Services could step in with large early cheques and secure their role as key computing providers. Huang called this a “miss” and admitted it was his mistake.
Yes, but? He also praised the firms that moved early, calling their approach “genius.” “They realised then that they had to do something like that. And I’m delighted that they did,” he said.
Nvidia, now the world’s most valuable company, has since become a major AI investor and has backed several of the same firms it once passed on.
