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
The gold price today in India is ₹1,52,500 per 10 grams for 24-carat gold, down 0.42% from Monday. The silver price today in India has crashed from ₹4,300 to ₹2,62,730 per kg after hitting a high of nearly ₹2,82,000 earlier in the
India’s automotive market kicked off FY27 on a high note, with April 2026 auto sales recording strong growth across segments. The surge was largely driven by rising demand for electric vehicles (EVs) and sport utility vehicles (SUVs), reflecting a clear shift in consumer preferences. The month saw impressive traction
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
Indian startup activity on 11 May 2026 was led by healthy packaged foods and fintech, with one notable funding round and a clutch of IPO and listed-company updates. Wingreens Farms closed a ₹120 crore Series D and acquired Safe Harvest in a share-swap deal. On the public markets front, InCred
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
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,