Snap is cutting approximately 1,000 employees, with CEO Evan Spiegel framing the reduction as a necessary reset at what he called a 'crucible moment' for the company. The layoffs signal a structural shift in how Snap intends to staff and operate going forward, not a routine cost trim. Spiegel communicated the decision directly to staff via internal memo on Wednesday, positioning the cuts as tied to a broader AI-driven productivity thesis. His argument: smaller teams equipped with AI tools can generate output that previously required larger headcounts, citing internal examples of 'small squads leveraging AI tools to drive meaningful progress.' That framing matters for investors and analysts. Snap is effectively compressing its human capital base while betting that AI tooling closes the output gap, a model with real margin upside if it holds but execution risk if product velocity stalls. The headcount figure, roughly 1,000 roles, and which functions are affected will determine whether this reads as efficiency or retreat. Watch for Q-over-Q operating expense movement and any guidance revision in Snap's next earnings report.
Flipkart will launch a food delivery pilot in Bengaluru by mid-August, charging restaurants a 10-11% commission compared to the 25-35% levied by Swiggy and Zomato. The move targets growing restaurant discontent with incumbent platforms and aims to drive daily engagement across Flipkart's 500 million registered users.
Maruti Suzuki crossed two lakh domestic units in July 2026 for the first time, recording 42.4% year-on-year growth. Total sales including exports and OEM supplies reached 2,41,421 units, with all passenger vehicle segments posting gains.
Air India's net loss more than doubled to ₹22,238 crore in FY26, prompting Tata Sons chairman N Chandrasekaran to extend the Vihaan.AI turnaround timeline from five years to as long as a decade.
UpGrad's all-stock acquisition of Unacademy, valued at Rs 1,955 crore, is set to close within three weeks after CCI clearance and near-complete investor sign-offs. The deal combines upGrad's upskilling business with Unacademy's test prep and medical education platforms, with Gaurav Munjal staying on as CEO.
