Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories. 1. TCS Cuts Jobs to “Realign the Future” India’s largest IT firm, Tata Consultancy Services (TCS), is laying off 12,261 employees—roughly 2% of its global workforce—in FY26. The move, largely targeting mid-to-senior management, is part of TCS’s shift toward becoming a “Future-Ready”, AI-driven organisation. Despite a fresh 5,000 hires in Q1, the company’s attrition ticked up to 13.8%, prompting tighter policies on bench strength and billing mandates. CFO Samir Seksaria’s earlier assurance of wage hikes is now shadowed by cost cuts. CEO K. Krithivasan remains cautious, citing macro headwinds and a low likelihood of double-digit growth. TCS joins Microsoft and other tech majors who are navigating the AI disruption with painful workforce realignments. 2. Trump’s EU Tariff Countdown Just days before an August 1 tariff deadline, Donald Trump is pushing hard for a new US-EU trade deal, demanding “fairness” on cars and agriculture. Meeting European Commission President Ursula von der Leyen in Scotland, Trump said there’s a “good chance” of a breakthrough, while von der Leyen pegged the odds at 50-50. If talks collapse, EU exports could face up to 30% tariffs on top of existing duties. With $1.9 trillion in annual trade on the line, this is a critical test for transatlantic ties—and a volatile moment for global markets. 3. Rudra & Bhairav: India’s New Strike Force In a bold military reorganisation, the Indian Army has launched ‘Rudra’ all-arms brigades and ‘Bhairav’ light commando battalions to enhance border readiness against China and Pakistan. Unveiled on Kargil Vijay Diwas, these new formations blend infantry, tanks, artillery, UAVs, and special forces into agile, tech-powered units. Army Chief General Upendra Dwivedi said this realignment—without adding new troops—will “multiply operational capabilities manifold.” Over 250 brigades will be converted into all-arms formations, marking a major pivot toward future-ready warfare. 4. Coforge Rises to #7 in Indian IT Coforge, formerly NIIT Technologies, has overtaken Mphasis to become India’s seventh-largest IT services provider. Clocking $442 million in revenue for the June quarter, Coforge is riding high on a $1.56 billion deal with Sabre and its acquisition of Cigniti Technologies. With operating margins flat at 13.1% and negative free cash flow, challenges remain—but analysts expect Coforge to hit a $2 billion run-rate by June 2026, potentially cracking the top 6 alongside Tech Mahindra and LTIMindtree. CEO Sudhir Singh is confident: “H2 should also be robust.” The mid-cap IT race is heating up, even as the top four remain unchanged. 5. UK Faces Vote on Palestinian Statehood Following France’s bold UN pledge to recognise Palestine, Britain is now under pressure to act. The Scottish National Party (SNP) has vowed to introduce a Palestine Recognition Bill when Parliament resumes in September. Leader Stephen Flynn says if PM Keir Starmer stalls, the SNP will force a full parliamentary vote. Over 220 MPs, including many from Labour, back recognition, citing the escalating crisis in Gaza. While Starmer, Italy, and Germany prefer a peace-first approach, critics warn that waiting might mean never acting at all. With 142 nations already recognising Palestine, the UK’s next move will be closely watched. Learn more about your ad choices. Visit megaphone.fm/adchoices