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BusinessPhoto: HT WorldNetflix announced layoffs of about 1,000 employees, its largest since 2022, due to slower growth and declining user engagement. The cuts mainly affect product, tech, legal, and HR teams. Co-CEOs Greg Peters and Ted Sarandos emphasized prioritizing resources to fulfill their mission to entertain the world. The layoffs are not related to AI developments, according to insiders.
HT World··Los Angeles
TechnologyPhoto: ET TechShares of companies leading the AI boom remain top gainers globally this year but have recently dropped sharply. Investors are reevaluating the cost of capital due to rising interest rates and inflation, causing concern around credit default swaps in AI investments. This shift reflects broader market volatility impacting AI sector valuations.
ET Tech·
PoliticsPhoto: Amar UjalaIn West Bengal, amid factionalism within the Trinamool Congress (TMC), Mamata Banerjee's faction has accused the police of collecting affidavits favoring the rival faction. National Joint Secretary Dola Sen wrote to senior state and police officials alleging pressure and irregularities in stamp paper distribution. The dispute arises amid Election Commission proceedings over party name, symbol, and funds after assembly elections. Both factions must submit affidavits by October 26. Sen claims police coerced signatures from non-members to support the rival faction, with police station officers allegedly using influence to gather signatures.
Amar Ujala·
BusinessPhoto: Mint CompaniesAir India CEO Tewolde Gebremariam has established a committee to explore cost-cutting measures such as merging teams and reducing office lease expenses. This initiative follows the airline's consolidated loss widening to ₹22,238.23 crore in the fiscal year 2025-26, aiming to improve financial health.
Mint Companies·
BusinessPhoto: ET MarketsIIFL Finance's profit after tax nearly doubled to Rs 805 crore in Q2, driven by stronger operating leverage and lower loan losses. The company's assets under management (AUM) increased by 38% to Rs 1.24 lakh crore, mainly due to growth in gold loans during the quarter.
ET Markets·
TechnologyPhoto: NDTV TechThe Amazon Great Indian Festival 2026 features discounts of up to 70% on select external solid-state drives (SSDs) from brands like SanDisk, Samsung, and Seagate. With rising memory prices making high-storage smartphones expensive, SSDs provide a faster, portable alternative to traditional hard disk drives for storing photos, videos, and files.
NDTV Tech·
HT World··Los Angeles
Photo: HT WorldNetflix announced layoffs of about 1,000 employees, its largest since 2022, due to slower growth and declining user engagement. The cuts mainly affect product, tech, legal, and HR teams. Co-CEOs Greg Peters and Ted Sarandos emphasized prioritizing resources to fulfill their mission to entertain the world. The layoffs are not related to AI developments, according to insiders.
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