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.
The Indian government announced the Emergency Credit Line Guarantee Scheme 5.0 (ECLGS 5.0) on the evening of 5th May 2026, extending collateral-free top-up loans to MSMEs absorbing the economic shock of the Iran war crisis. Confirmed via an official PIB notification, the scheme allows eligible businesses to borrow
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
Armory, one of India’s fastest-growing defence-tech companies, has reached a significant milestone by becoming among the first startups of its scale to secure a landmark INR 100 crore order from the Ministry of Defence (MoD) for its AI-powered SURGE Counter-Unmanned Aircraft System (C-UAS). This contract was awarded following a
Porsche India, a division of Škoda Auto Volkswagen India Private Limited (SAVWIPL), has appointed Ashutosh Dixit as Brand Director, Porsche India, with immediate effect. Throughout a distinguished career across India, China, and Europe, Ashutosh Dixit has held several leadership roles, building deep expertise in strategy, sales operations, and brand development.
Biocon founder and chairperson Kiran Mazumdar Shaw has reportedly chosen her niece, Claire Mazumdar, as her successor to lead India's largest biotechnology company. The succession announcement marks a significant development for the Bengaluru-based pharmaceutical giant, which has been at the forefront of India's biotech revolution for
Gold and silver prices in India on 5 May 2026 are witnessing mixed trends, influenced by global cues, inflation concerns, and geopolitical developments. While gold is holding relatively steady on the Multi-Commodity Exchange (MCX), silver has shown volatility after recent sharp corrections. According to the latest market data, MCX gold
Legal tech and lifestyle brands attracted capital today as Indian startups raised funds across diverse sectors. Legal AI platform Jurisphere secured ₹21 crore, while luxury innerwear brand MHYTH bagged ₹5 crore in pre-seed funding. Meanwhile, Dream Sports launched a stock broking platform, Dream Street, as it diversifies beyond gaming. Daily
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.
Luxury innerwear, clothing and lifestyle brand MHYTH has raised INR 5 crore (~$600,000) in a pre-seed funding round backed by a Mumbai-based single-family office, led by businessman Mohammed Asief Khan. The round follows an earlier angel raise in December 2024 with participation from Mumbai-based Asset Management firm - Nine
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
Meta has acquired US-based startup Assured Robot Intelligence (ARI) in a move that underlines its growing focus on humanoid robotics and “physical AI”. The deal, confirmed in early May 2026, comes as the company expands beyond its core social media and AI software business into machines designed for real-world tasks.
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
Monday, 4 May 2026, was a strong day for Indian startup funding, with capital flowing across skincare, menstrual health, bank locker infrastructure, semiconductor AI, ethnic wear, food, and personal data. Fireside Ventures made two separate Series A bets in CHOSEN and Kisah in a single day, signalling continued conviction in
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
India’s premium and authentic staples brand specializing in A2 Gir cow ghee and organic pantry, has secured investment from Aman Gupta through SailThru Ventures. Founded by content creator and entrepreneur Gaurav Taneja (Flying Beast) along with Ankur Tyagi and Sumit Mishra, the brand is building a strong presence in
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,