A broader overhaul of loan recovery standards is underway. Reserve Bank of India (RBI) has issued modification orders to update 'Conduct of Regulated Entities in Recovery of Loans and Engagement of Recovery Agents.'. As part of the planned changes, financial institutions like banks and NBFCs will be able
As part of its aggressive push into artificial intelligence, corporate software company Intuit is laying off about 3,000 workers worldwide. Additionally, in order to better compete in a market that is becoming more and more driven by AI, the company is restructuring its organisational structure. Chief Executive Officer Sasan
Southwest Airlines' recently established Global Innovation Centre in Hyderabad aims to hire approximately 1,000 people in the next years. The move is part of the airline's strategy to fortify its engineering and technological capacities in countries other than the US. According to remarks made by senior
Despite TCS announcing an average salary increase of around 5%, numerous staffers have claimed that their monthly salaries have been reduced, leading employees to question the company's latest appraisal cycle. The corporation reportedly implemented wage adjustments on May 18, according to recent media reports. The appraisal season has
To increase commercial electric mobility and decrease emissions from the transportation sector, India is contemplating a $1 billion (approximately INR 8,300 crore) incentive programme. The step is taken to encourage private fleet operators to purchase electric buses and trucks. Despite having lower operating expenses than conventional diesel vehicles, electric
Priority Postpaid, a new service by Bharti Airtel that uses 5G slicing technology, was announced for launch on 19 May. The service will dynamically prioritise network capacity for postpaid customers, and this is the first commercial rollout of its kind in India, according to Airtel. Customers who rely on constant
With this latest round of massive layoffs, Meta is removing approximately 10% of its worldwide workforce. By ordering employees in places like the United States, the United Kingdom, and Singapore to remain at home and work, Meta successfully avoided any internal turmoil in the company. The layoff notifications eventually arrived
606 LinkedIn employees in California have been notified that they will be laid off this summer. This decision was made shortly after the professional networking platform's most recent quarterly results showed a 12% increase in revenue year over year. Multiple US media outlets reviewed a WARN filing that
By the year 2030, the food and drink giant PepsiCo plans to pour as much as INR 5,700 crore into the Indian market. According to Jagrut Kotecha, the chief executive officer for India and South Asia, the investment will mainly go toward increasing the production capacity of the company&
The National Payments Corporation of India (NPCI) is reportedly working on a standardised, interoperable framework for soundboxes. This new initiative will enable all payment apps to support transactions based on the Unified Payments Interface. As soundboxes proliferate among stores and mom-and-pop shops, NPCI's unified platform will function independently
On May 20, Meta will lay off 10% of its employees. This is all a part of a larger reorganisation that the company is undergoing in response to its increasing emphasis on AI and automation. The corporation is planning to implement significant organisational changes to restructure workflows around AI-driven operations
Standard Chartered, a bank with headquarters in London, has stated that it will eliminate over 15% (around 7800 employees) of its workforce by the year 2030. The move comes as the bank increases its use of AI to improve efficiency, according to media reports. Its website states that the layoffs
A new and ambitious industrial policy has been unveiled by the Haryana government. Massive investment, the creation of lakhs of jobs, and the promotion of cleaner transport in the National Capital Region (NCR) are all goals of the policy. On 18 May, the State Cabinet put the "Make in
There will be 850 layoffs at Inter IKEA, the business that franchises the internationally renowned Swedish furniture giant IKEA in 63 countries. In response to declining consumer demand and increasing economic pressures, the move is a component of a comprehensive plan to cut costs. The elimination of positions is part
In an effort to save $2 billion, Starbucks Corp. is considering opening a technology office in India. A message was sent to employees stating that the new hub is scheduled to be built during the company's fiscal year 2027, which begins in October. After deciding on a location
With the opening of Million Minds Tech City, Ahmedabad is vying to become one of India's many Global Capability Centre (GCC) nodes. In this endeavour, Ganesh Housing Limited is investing INR 15,000 crore to build an integrated technological township. Ahmedabad has long been known as a hub
Recently, Jane Street Group LLC established a new office in Singapore. Consequently, as it keeps expanding its operations across Asia, it is doubling its seating capacity to 250 people. A total of 24,000 square feet (2,230 square metres) has been leased by the market maker in the IOI
Electric vehicle (EV) giant Ola Electric's board of directors has approved a cumulative investment of INR 2,000 Cr just days before the company reports its financial results for the fourth quarter. The company's cell manufacturing division, Ola Cell Technologies Pvt Ltd (OCT), and its vehicle
Coal India Ltd's solar manufacturing subsidiary has been dissolved. This action officially ends the company's plans to use a special-purpose vehicle to get into integrated solar photovoltaic manufacturing. In a regulatory filing, the state-owned coal miner announced that CIL Solar PV Ltd has been dissolved and
On May 14th, the Enforcement Directorate announced that bank deposits totalling INR 526 crore had been frozen. Moreover, the Enforcement Directorate (ED) has announced that, following the conclusion of searches in a money laundering case involving the online gaming platform Gameskraft and its founders, it has confiscated INR 11 lakh
By the end of 2027, Uber intends to establish two substantial technology centers in Bengaluru and Hyderabad. Consequently, this shows Uber's stronger dedication towards India in the long run. The business is currently increasing its presence in the field of engineering and infrastructure in a rapidly developing market.
Campus job offers from Oracle have allegedly been withdrawn from students at various National Institutes of Technology and Indian Institutes of Technology. More than 30,000 workers across the globe were allegedly impacted by the tech company's massive global restructuring exercise, which was completed just weeks ago. Due
In anticipation of its highly anticipated initial public offering (IPO), the digital arm of Reliance Industries, Jio Platforms, has named Akash Ambani as its managing director for a duration of five years, starting April 9, 2026. The nomination was approved by a vote of all board members at an April
The health and insurance benefits for over 90,000 delivery colleagues across Amazon India's operations network have been enhanced, the company announced. Coverage for common medical expenses can be obtained through the benefits' outpatient department (OPD) coverage. Compensation for both temporary and permanent disabilities, as well as
Meta workers are protesting the company's new monitoring software that aims to teach AI by posting leaflets around the headquarters in the United States. This change occurred only days before the corporation was scheduled to start laying off 10% of its employees on May 20. The Model Capability
Walmart is purportedly contemplating the reduction or relocation of approximately 1,000 corporate employees. Its technology and AI activities are being restructured, and this relocation or these layoffs are just one component of this development. As part of its strategy to better integrate its worldwide technology and AI product teams,
S Cube Capital (SAIML Pte Ltd), a fund management firm located in Singapore, has been bought by InCred Capital, the wealth management subsidiary of InCred Group. The business announced its intention to merge S Cube Capital with its Singaporean subsidiary, InCred Global Wealth Pte Ltd, pending necessary regulatory clearances. With
The OpenAI Deployment Company is a new venture from OpenAI that will assist organisations in developing and implementing AI systems that are reliable and applicable to their critical daily operations. Organisations tackling difficult challenges in harsh environments will have access to Forward Deployed Engineers (FDEs), who are experts in frontier
Hundreds of paid workers in GM's IT department have been let go as layoffs have started. The move comes as the US carmaker tightens its grip on costs and reevaluates its workforce needs in certain areas. Roughly 500 to 600 employees worldwide are projected to be impacted by
Staff layoffs, reorganisation of management, and increased use of AI throughout internal processes are all part of GitLab's massive organisational change, which the company has disclosed. This move is being made by the software corporation in preparation for the ever-changing world of AI-driven development. On May 11th, the
The Seattle headquarters of Starbucks has laid off 61 corporate technology employees. Last week, the company's Worker Adjustment and Retraining Notification filing revealed that this action is being made as part of a comprehensive operational revamp under CEO Brian Niccol. With the layoffs underway, the worldwide coffee company
As part of its internal reorganisation in preparation for its anticipated initial public offering (IPO) next year, Google-backed edtech giant Adda247 has fired 20% of its staff, or about 200 people. The layoffs affected workers in a wide range of departments, according to news accounts. Employees in departments like product,
In order to fund further expenditures in artificial intelligence, Commerzbank intends to let off 3,000 employees. The move was made as the second-largest listed bank in Germany fortified its defences against a takeover bid by UniCredit of Italy. On May 8, the Frankfurt-based bank announced the layoffs as part
About 70 people, or about 15% of Truecaller's employees, will lose their employment. This comes after the company had a rough first quarter, posting sharp drops in sales in India as well as lower advertising income and overall pressure on its fundamental business model. The caller ID firm
Oracle is currently experiencing an increase in criticism from former employees as a result of the mass termination of approximately 20,000 employees. The layoff has resulted in disputes regarding severance terms, forfeited stock compensation, and labour protection regulations. Employees in the US, India, and other foreign locations were hit
Three of Porsche AG's companies will be closed, and over 500 jobs will be eliminated. The German luxury automaker is taking this action as part of its reorganisation to put greater emphasis on its primary business. This shift is a major strategic rethink for Porsche, as it is
Thousands of long-serving Microsoft employees in the US now have the option to voluntarily leave the company. Consequently, this is the first retirement buyout programme that the corporation has ever run in its fifty years. After being discussed internally last month, Microsoft's HR systems have officially detailed the
About 750 permanent workers in the passenger and commercial vehicle divisions of Tata Motors have been offered the opportunity to retire voluntarily (VRS). This will be the first exercise of its kind for the firm since its reorganisation in 2025. After unions representing workers at Tata Motors plants requested a
Roughly 1,000 positions will be eliminated worldwide at Fidelity Investments. The move is part of the financial services provider's effort to reorganise its product and technology operations in preparation for a new delivery model. Out of a total of 80,000 employees around the world, around 1%
Worldwide, more than 1,100 workers will be let go by Cloudflare. In preparation for what business leaders are calling the "agentic AI era", the cybersecurity and cloud infrastructure firm is reorganising its operations. Layoffs were revealed in an internal memo that was emailed to staff on 7
Verizon has started laying off workers again in the US. The telecom group has already eliminated 13,000 positions across the board, and now it is laying off hundreds more. In an interview with a news outlet, the telecom company confirmed the most recent layoffs but refused to provide a
SEBI has received the updated draft red herring prospectus (UDRHP-I) from InCred Holdings, the parent company of InCred Financial Services, a prominent NBFC. The public offering of the company's stock will include both a new issuance of shares up to INR 1,250 Cr and an OFS of
The Nissan plant in Sunderland, United Kingdom, will consolidate production lines and eliminate 900 jobs around Europe. The move is part of a larger restructuring effort by the Japanese automaker to cut surplus capacity and increase efficiency. The Sunderland plant, which produces the Leaf, Juke, and Qashqai models, will combine
A number of Nike's technology-related offices are being shuttered in Atlanta, China, and Poland, and others are being moved to Portland. As part of a larger restructuring plan, the sportswear firm is taking this action, which is anticipated to result in the loss of approximately 1,400 jobs.
Andhra Pradesh's industry and manufacturing aspirations have been greatly enhanced by the selection of AP for the new production expansion project by renowned motorbike maker Royal Enfield. Consequently, this is the first significant expansion outside of Tamil Nadu for the corporation since its founding in 1901. A state-of-the-art
Meesho is quickly integrating AI into its foundational processes. Aatrey, the chief executive, recently announced that artificial intelligence tools now generate over 70% of the company's code. This revelation demonstrates how Indian IT companies are boosting the efficiency, speed, and scalability of their engineering and product development processes
Coinbase is restructuring its management and laying off 14% of its employees. The move comes as the Bitcoin exchange, now led by CEO Brian Armstrong, speeds up its shift to an AI-first operational strategy. Approximately 700 workers may be impacted by the reorganisation, according to Coinbase's most current
A subsidiary of BMW that operates out of South Carolina's massive manufacturing complex is planning to lay off about 100 workers. This is just the latest blow to the state's car supply chain ecosystem in terms of job cuts. The South Carolina Department of Employment has
As the software company speeds up its transformation powered by artificial intelligence, Freshworks will slash about 500 workers worldwide. In response to industry-wide advances in enterprise technology, the company is reorganising its operations. On May 5th, the business announced that it would be laying off about 11% of its employees.
In an effort to streamline operations and improve long-term growth, newly hired chief executive Enrique Lores is launching a turnaround efforts at PayPal, which might lead to layoffs and reduced spending. The business has stated that it plans to save $1.5 billion in the next 2-3 years. In the
As part of its Project Leap reorganisation effort, Cognisant may cut 12,000 to 15,000 positions worldwide. Consequently, the worldwide IT services business is bracing for yet another massive staff reset. As part of a larger reorganisation plan, Cognizant has allocated up to $270 million to cover expenses connected
As part of its strategy to expand its AI-powered fleet safety business, Netradyne, which is backed by SoftBank, has purchased Moove Connected Mobility, increasing its footprint in Europe. With this acquisition, Netradyne's edge intelligence platform and Moove's local presence and clientele in key European markets will
Online platforms that hire gig workers are implementing a range of tech-driven solutions, infrastructure enhancements, and welfare measures as the temperature rises across the country. Many online retailers are pledging to do more to protect their delivery drivers and employees. These platforms include Amazon, Zomato, Blinkit, Swiggy, BigBasket, and Flipkart.
Major cities like Mumbai, Bengaluru, and the National Capital Region are experiencing a scarcity of workers for on-demand house-help platforms like Snabbit, Pronto, and Urban Company's Insta Help. This resulted in reduced availability and appointments that had to be rescheduled or cancelled. Users have complained about having trouble
There will be major shifts at Reliance Industries as the company prepares to increase production of liquefied petroleum gas (LPG). War in the Middle East and the subsequent interruption of vital import channels have exacerbated India's already dire energy situation, prompting the country to make this strategic shift.
With its shutdown, Ask.com, one of the first internet search platforms, has put a stop to the popularisation of question-based queries. A message on the website stated that the service was no longer available as of May 1, 2026. This shutting down marks the end of an era for
As part of a broader restructuring initiative, Estée Lauder intends to cut up to 10,000 jobs worldwide. The layoffs could result in yearly savings of up to $1.2 billion, all while improving its profit forecast. The most recent reductions, which result in an additional 3,000 positions beyond
In order to design and construct India's first satellite data centre in orbit, Pixxel and Sarvam formed a strategic alliance on May 4th. Planetary intelligence firm Pixxel constructs and manages a fleet of cutting-edge imaging satellites. The Pathfinder satellite will be developed, manufactured, launched, and operated by Pixxel
Due to a lack of funding, Spirit Airlines has decided to cease all operations. Thus, one of the major U.S. low-cost carriers came to a sudden end. More importantly, the movement will result in the layoff of about 17,000 workers. According to multiple news outlets, the airline grounded
A deal for $55.5 billion has been proposed between video game retailer GameStop and online marketplace eBay. The proposed acquisition would put eBay's share price at $125.00, which is 20% more than the company's closing price on May 1st. Since last week, GameStop has
After ex-employees said they waited a long time to get full and final compensation, SpiceJet came under new scrutiny. Workers assert that over 500 former employees are still waiting for payment, despite being long gone from the organisation. In light of the airline's persistent financial and operational problems,
The auto PLI system has several serious problems, and the Confederation of Indian Industry (CII) has called for simpler regulations to help new electric vehicle companies get off the ground and stimulate innovation. In a letter sent to the PMO and the MHI, a group of six electric vehicle startups
For the months of June and July, Air India will cut back on its international flight operations due to the dramatic increase in the price of aviation turbine fuel (ATF). Moreover, media reports indicate that multiple routes are no longer profitable due to the continued airspace restrictions. Managing Director and
According to VAHAN data, Ola Electric reported a noteworthy month-over-month increase in April 2026. The company's registrations increased from 10,133 units in March to 12,166 units. The updated figures were made public by the firm on 30 April. In a statement, Ola Electric stated that this
Tim Cook, Apple's outgoing CEO, expressed his utmost enthusiasm for the country of India, where the company's Mac, iPad, and iPhone divisions are all experiencing double-digit growth with plenty of space to expand. Regardless of this growth, Apple's market share in the world'
In a deal worth approximately INR 325 crore, Accenture leased over 6 lakh sq ft of office space in Pune for installing a global capability centre (GCC). The deal, so, represents one of the year's largest commercial real estate deals in the city. Space at Phoenix Millennium Towers
In an antitrust lawsuit involving allegations of abuse of power in the apps marketplace area, Apple, creator of the iPhone, allegedly requested the Delhi High Court (HC) to prevent the Competition Commission of India (CCI) from setting a final hearing. Apple allegedly accused the watchdog of going beyond by requiring
Amazon, the e-commerce juggernaut, is seeing robust expansion in the realm of fast commerce. Amazon Now, the company's fast commerce platform, is experiencing 25% MoM growth in orders in India, according to CEO Andrew 'Andy' Jassy during the Q1 earnings call. The number of orders processed
With an investment target of more than INR 10,000 cr, the "AI Policy 2026" has been authorised by the Maharashtra cabinet. In addition, by 2031, the government aims to have created 1.5 lakh jobs. The objective of the state is to establish itself as a national
In its US advising sector, KPMG has laid off almost 400 consultants. Demand is falling across critical service lines associated with regulatory risk, customer operations, and financial services, prompting this action. The layoffs were confirmed to a media outlet and affect about 4% of the advisory team. On April 29th,
Amazon to Recruit 11,000 Engineers in 2026 Following Mass Layoffs Amazon is planning to hire 11,000 software developers, interns, and engineers this year. The development came just weeks after cutting about 30,000 jobs in late 2025 and early 2026. The change was announced by AWS CEO Matt
For the first three months of 2026, Meta's profits surged. But even though profits have gone up, it plans to lay off some 8,000 workers. The company has justified the layoffs by saying they are necessary to boost productivity and fund their growing investment in AI. The
As part of a coordinated regulatory action, Meta, the owner of WhatsApp, has terminated 9,400 accounts in India since January 2026 for their involvement in digital arrest schemes. The decision was made in response to mounting regulatory pressure and an increase in online fraud cases affecting Indian consumers. These
The Indian Railways had denied rumours that it is laying off thirty thousand workers. No drop in overall labour strength has occurred, according to Railways, and the ongoing changes are related to ordinary manpower rationalisation. The exercise, according to officials, entails shifting focus from formerly important but now obsolete functions
In a bank "fraud"-linked money laundering investigation against Reliance Communications, the Enforcement Directorate (ED) on 28 April announced the attachment of a Mumbai flat belonging to industrialist Anil Ambani. Further, ED has also attached a Khandala farmhouse jointly held by his son Jai Anshul Ambani. The attachment
Truist Financial Corp. of the United States has awarded Infosys Ltd a contract to establish and operate a global capabilities centre (GCC) in Hyderabad for more than $500 million. That being said, no other IT services provider has ever been engaged in such a massive project to construct and run
In the first three months of 2027, Spinny plans to launch its first public offering. According to reports, Kotak Mahindra Capital, Morgan Stanley, and Citigroup have been recruited by the unicorn backed by Tiger Global to participate in a possible initial public offering (IPO). A combination of new issues and
The listed fintech giant MobiKwik has been sold by venture capital firm Peak XV Partners in a block deal worth INR 130 Cr, or around $13.8 Mn. This happened the day after the fintech firm got its NBFC licence from the government. The average price per share for the
The government is considering a rule that would force essential businesses to use only sovereign cloud systems that are "Made-in-India" for their key digital infrastructure. This would affect industries including energy, telecoms, and banking. This action is being made in response to growing cybersecurity concerns and geopolitical tensions.
Marc Benioff, CEO of Salesforce, announced on the social media site X that the company will be recruiting 1,000 recent college grads and interns to help drive the AI exponential. The timing of his post is significant, as AI is already posing a threat to the profitability of software
As part of its ongoing endeavour to incorporate AI into routine engineering processes, Amazon is increasing the utilisation of its in-house AI tools by over 700 teams. Despite some employees voicing reservations about the rollout's management, the move demonstrates a larger effort to create large-scale efficiency advantages. One
A planned AI agreement involving Meta has been vetoed by Beijing. This means that foreign investment in China in key technology industries will be subject to stricter regulatory oversight. The US tech group's planned acquisition of Singapore-based AI firm Manus, valued at roughly INR 16,600 crore, has
Pine Labs, headed by Amrish Rau, is aiming to strengthen its relationship with direct-to-consumer (D2C) merchants. On that note, the brand on 25 April paid INR 88 crore to purchase Shopflo, a platform that optimises checkout processes. Shopflo allegedly processed transactions for 60 million clients through more than 1,000
To fortify its leadership bench, Flipkart promoted a group of senior executives. The decision is made in anticipation of the brand's upcoming growth phase and its initial public offering, which may happen as soon as next year. In an internal message, Flipkart Group CEO Kalyan Krishnamurthy emphasised the
Anthropic will receive $10 billion from Google today, with an additional $30 billion on the table if the artificial intelligence business meets specific performance targets. The latest indication that Big Tech's hunger for cutting-edge AI is far from abating is the purchase, which values Anthropic at $350 billion.
Paytm Payments Bank's (PPB) banking licence has been revoked by the Reserve Bank of India (RBI). The RBI said that the bank's "general character of management" was harmful to depositors' and the public's interests. Additionally, it highlighted how the bank'
In the US, thousands of Microsoft employees have the option to retire voluntarily. In an attempt to realign its personnel and control expenses, the company has taken this daring action. About 7% of Microsoft's US employees will be able to participate in buyouts thanks to the scheme. With
In a statement sent to employees on May 20, Meta's chief people officer Janelle Gale announced plans to lay off about 10% of the company's worldwide workforce. After weeks of rumours about the social media company laying off employees, Gale finally broke the news. According to
About 10% of KPMG's audit partners in the US will be laid off. The decision is a result of a lack of success in a multi-year campaign to promote early retirements. Over a hundred partners are anticipated to be impacted by the cuts. Some will depart through voluntary
Approximately 1,400 positions will be eliminated in Nike's global operations business. In an internal memo, COO Venkatesh Alagirisamy stated that technology teams would be the hardest hit by the layoffs. As the organisation enters the last stage of its turnaround plan, the memo details a number of
As part of a larger cost-cutting initiative, Nestlé's French division has announced plans to lay off approximately 180 employees, according to Reuters. In October, the food giant announced plans to slash thousands of posts globally. This step is part of a bigger reorganisation initiative, which includes the proposed
In FY27, Infosys plans to employ approximately 20,000 freshers. Consequently, the firm was able to keep up its campus hiring pace despite a decrease in the overall workforce and an ease in attrition during the March quarter. The move is in line with the company's calibrated workforce
As new worries about cybersecurity, deepfakes, and threats to vital sectors arise from the fast development of AI, the Centre is increasing its focus on AI regulation. Reportedly, a six-person Technology and Policy Expert Committee (TPEC) was formed on April 13. The TPEC is reportedly working on new rules that
On April 23rd, Amazon India announced plans to spend over INR 2,800 crore ($300 million) to enhance the safety of its employees and grow its logistical networks. The online retailer intends to spend over $35 billion by 2030 on exports, employment, and digitalisation driven by artificial intelligence. With this
The proposed rules for PPI regulation were unveiled by the Reserve Bank of India (RBI) on April 22. The next set of regulations, titled the draft Master Direction on Prepaid Payment Instruments (PPIs), 2026, is intended to supersede the master directions from 2021. Additionally, it will bring a better organised
Razorpay has incorporated Google Pay to facilitate cross-border transactions. As a result, Indian exporters can now offer wallet-based checkout, which would greatly enhance the success rate of payments in global e-commerce. According to Razorpay, Indian companies may now accept payments from customers all across the world thanks to its integration
According to Amazon's inaugural Trustworthy Shopping Experience Report, the e-commerce powerhouse is utilising AI to detect and eliminate fraudulent listings. In 2025, the e-commerce giant successfully removed more than 15 million counterfeit products, as said in a study that was released on 22 April. The report details the
Ekart, the logistics division of Flipkart, has announced that it is deepening its cooperation with IKEA, the biggest furniture retailer in the world. Now that last-mile deliveries in Chennai are being handled by the partnership, Ekart's role in managing large-format logistics for enterprise clients is further enhanced. As
As part of a reorganisation spearheaded by its newly recruited chief technology officer, Starbucks has started to lay off employees in the technology department. The amount of positions impacted is unknown, and the business has chosen not to address the layoffs. These alterations are a result of Anand Varadarajan'
In response to growing financial losses and systemic problems in its operations, Canada Post intends to lay off 30,000 workers over the next decade. According to the organisation's annual report to Parliament, the decrease in employment will be accomplished through retirements and voluntary departures instead of layoffs.