They did similar layoffs in Jan-feb 2015 but have to stop in between before they could fire all they targeted seniors.
Now how TCS select who to fire is by giving power to Group Leads and his cha-chas who have been working in same for project for 8-10 years so new senior members are targeted list prepared send to top management who without even considering past records fires them. Unfortunately I met with similar treatment by TCS , I worked for 10 years won many awards but was fired based on recommendation of GL and PM with whom I just started working.
If they have such policies where talented people are let go and boot lickers awarded company is going to go downwards.