LTM (formerly LTIMindtree) has made no layoffs over AI, its CEO says, and rivals citing AI for job cuts had excess capacity

LTM, formerly LTIMindtree, has made no layoffs because of AI, chief executive Venu Lambu says, and firms citing AI for job cuts probably had excess staff. "AI is still not leading to any layoffs, at least from my own business standpoint. If somebody is using that as a reason, then probably they had some excess capacity that is not aligned to their growth or skills," Lambu told the Deccan Herald in an interview published on 6 October 2026. According to the paper, the Indian IT services company has laid off no one and has no plans to, even while passing AI productivity gains on to clients, and it has hired more than 1,000 freshers a quarter for the last four quarters. It employed 87,886 people in June 2026. LTM grew 6% last year by doing more work without adding headcount, the paper reports, and Lambu described AI as, among other things, a tool to deliver more work in less time with less capacity. He also said IT budgets are being reallocated to AI spending. Lambu runs a company that sells AI services, so he has a stake in the view that AI creates work rather than destroying it. His comments come as several Indian IT firms cite AI efficiencies while trimming mid- and senior-level headcount. Employers that do credit AI for their cuts are listed in the AI layoffs tracker on this site.