Meta has set May 20 as the target date for its first wave of layoffs, with additional cuts planned later in 2026, according to exclusive reporting. The company has not publicly disclosed the total headcount reduction or the functions most exposed to the reductions. This is a multi-phase restructuring, meaning workforce pressure at Meta will extend across the calendar year rather than resolving in a single event. Investors and employees will be watching for disclosures on affected teams, severance terms, and whether the cuts cluster around specific divisions such as Reality Labs, recruiting, or middle management layers that have drawn scrutiny in prior rounds. The phased timeline could signal an intent to manage cost reductions while limiting operational disruption, though the absence of a disclosed total makes the full magnitude unclear. Meta's previous restructuring in 2022 and 2023 reshaped its cost structure materially, and another multi-wave reduction suggests the company is again prioritizing margin discipline heading into the back half of 2026.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
