Going forward everything will be built on js and we won't be carrying java anymore. Whether its UI thing or lambda functions on AWS. This is what the idea floating in my organization.
What are the thoughts here on restricting on a language?

I don't know about Java vs JavaScript, as the second does not seem to me like a definite replacement of the first, but I do think that Java has left it's best days behind.
In the last ten years Android has probably been one of the strongest factors in keeping Java very popular. Now though, as Java on Android fades out (for various tech and legal reasons, see for example Kotlin), and as other solutions gain traction for cross platform apps, I don't see much space left for it to still be mainstream.

@josap that's helpful. thanks