Asia In Brief Indian services giant Tata Consultancy Services will shed over 10,000 staff but will give pay rises to most of those who remain.

The company informed workers of the layoffs in late July and according to reports in India media, issued a statement in which it said the cuts are part of a plan “to become a future-ready organization” through “strategic initiatives on multiple fronts including investing in new-tech areas, entering new markets, deploying AI at scale for our clients and ourselves, deepening our partnerships, creating next-gen infrastructure and realigning our workforce model.”

According to Reuters , the company last week informed staff that over 80 percent of them will soon receive a pay rise. Interestingly, management aren’t getting the pay rise.

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