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Tata Consultancy Services (TCS) has secured a five-year renewal and expansion of its contract with Weatherford International (NASDAQ: WFRD), a multinational oilfield service company headquartered in North America.
Under this extended agreement, TCS will leverage its expertise in automation, artificial intelligence, and digital optimization to drive enterprise-wide business transformation initiatives for Weatherford. The partnership will focus on enhancing operational efficiencies across critical domains such as finance, supply chains, and human resources.
TCS plans to introduce advanced AI-driven solutions to streamline Weatherford's finance and accounting processes, reduce costs, and improve scalability. Additionally, TCS' advisory capabilities will support Weatherford in simplifying workflows, fostering innovation, and enabling outcome-based strategies aimed at maximizing agility and long-term financial resilience.
This renewed collaboration builds on seven years of a trusted partnership, during which TCS spearheaded transformative improvements in shared services. Notably, these efforts have resulted in around 50% reduction in Weatherford's total cost of ownership across mission-critical operations.
The company currently employs around 613,000 people globally as of June 2025.
The CEO also clarified that affected employees would receive severance packages, notice period pay, extended health insurance, and outplacement support. Additionally, TCS is instituting stricter bench management policies to encourage timely redeployment of unassigned associates to client projects.
Market analysts observe that AI and automation are quietly reshaping demand in the IT industry, with senior employees facing challenges keeping pace with new technologies, a trend not unique to TCS but prevalent across major corporates.
TCS is a digital transformation and technology partner of choice for industry-leading organizations worldwide. The IT major reported a 4.38% jump in consolidated net profit to Rs 12,760 crore despite 1.62% decline in revenue from operations to Rs 63,437 crore in Q1 June 2025 over Q4 March 2025. The company’s total contract value (TCV) dropped to $9.4 billion in Q1 June 2025, down 22.95% compared with $12.2 billion in Q4 March 2025. Additionally, the attrition rate was at 13.8% for the last twelve months (LTM), the highest in nearly two years.