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
Kathy's Beverages Pvt Ltd, the parent company of Mumbai-based bubble tea and beverage brand Bobakat, has raised ₹6 crore (approximately USD 638,000) in a Pre-Series A funding round to fuel a nationwide retail expansion and accelerate product innovation, the company announced Monday. The fresh capital will be
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
Sindhuja Microcredit, a new generation digital and rural-focused microfinance institution (MFI) providing financial services to self-employed women entrepreneurs, has raised $5 million (INR 47 crores) in a Pre Series D funding round. Existing investors Abler Nordic, GAWA Capital (through its vehicle Huruma Fund) and Oikocredit have participated in this round.
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
India’s largest public sector lender, State Bank of India (SBI), has reported a steady rise in profits for both the full financial year FY26 and the March quarter, reflecting stable loan growth and improving asset quality. However, the bank’s shares saw a sharp decline following the announcement, signalling
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
Quick commerce major Zepto has secured the Securities and Exchange Board of India's (SEBI) approval for its proposed initial public offering worth around ₹11,000 Cr to ₹12,000 Cr (about $1.2 billion), clearing a key regulatory hurdle for what is set to be one of India&
Thursday, 8 May 2026, was a quiet day for startup funding, with only one deal closing. Business news, however, was packed. Zepto received SEBI's approval for its $1.2 billion IPO, becoming one of the most closely watched public market events in India's quick commerce space.
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
Indian startups saw a steady flow of capital on 7 May 2026, with spacetech, robotics and quick home services drawing investor attention. Skyroot Aerospace led the day, bagging $60 million to become India's first spacetech unicorn. Pronto wrapped up a $45 million Series B at a doubled valuation,
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
Lachy Groom, co-founder of Physical Intelligence, leads $20 million extension; platform now processes 26,000 bookings daily
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
Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable investing, has invested USD 15 million in Eversource-backed Ecofy, a Reserve Bank of India (RBI)-registered NBFC specialising in financing green products. Founded in 2022 by Rajashree Nambiar and Govind Sankaranarayanan, and backed by Eversource Capital, British International Investment, FMO