In a dynamic week marked by significant corporate maneuvers, several major companies across different sectors announced significant strategic moves that could reshape their industries. Right from Microsoft revealing plans to lay off approximately 7,000 employees, to Vodafone Idea facing financial challenges and its inability to pay the AGR dues, to IndusInd Bank revealing another financial discrepancy, to Hindustan Unilever Limited (HUL) getting a go-ahead for the demerger of its ice-cream business – its been a busy week for the corporate world. These developments highlight the ongoing transformations within India’s corporate sector as companies adapt to evolving market conditions and strategic priorities.
Here are the four top-most searched corporate developments on Google in the last seven days.
Microsoft layoffs: Earlier last week, Microsoft had announced its plans to lay off around 7,000 employees, approximately 3 per cent of its global workforce, as part of a broader cost-cutting strategy. According to a report, the layoffs will span various levels and geographies. The tech firm had announced a smaller round of performance-related layoffs in January and now the current cuts are aimed at streamlining operations and reducing management layers. The company is apparently reallocating resources as it is now investing billions of dollars into artificial intelligence. “We have made huge investments in AI because we are optimistic about what it can do to help people, industry and society, and because we’re committed to bringing technology and people together to realize the promises of AI responsibly,” the company had previously shared on its website.
Vodafone Idea: Vodafone Idea has been under financial stress for a long time now due to the huge AGR dues it needs to pay to the government. The telecom major has said that it cannot operate beyond FY26 without the government’s support. According to a CNBC TV18 report, the company reportedly said that if it does not get support from the government, it will go to the National Company Law Tribunal (NCLT) for insolvency, in which case, the government will have no recovery of its dues for the spectrum sales. Before this, the company had filed a writ petition in the Supreme Court seeking waiver of approximately Rs 45,457 crore in AGR dues. As per the petition, as on March 31, 2025, Vodafone Idea’s total AGR dues stands at around Rs 83,400 crore, which includes Rs 28,294 crore in interest, Rs 6,012 crore in penalties, and Rs 11,151 crore in interest on penalty.
IndusInd Bank: IndusInd Bank, earlier last week, found itself under fire again. The Bank confirmed an accounting irregularity totalling Rs 1,269 crore. This came just around two months after it had disclosed a Rs 1,580 crore discrepancy in its derivatives portfolio. On May 15, in a regulatory filing, the Bank disclosed that its Internal Audit Department (IAD) had identified two significant financial discrepancies – one, the Bank’s statement showed Rs 674 crore incorrectly recorded as interest income across three quarters of FY25. Additionally, a whistleblower complaint led to the discovery of unsubstantiated balances of Rs 595 crore in “other assets” accounts. On April 29, the Bank’s top leadership, CEO Sumant Kathpalia and the deputy CEO resigned.
Hindustan Unilever: This past week, Hindustan Unilever (HUL) received a go-ahead from BSE and NSE for the demerger of the company’s ice cream business. HUL’s ice cream business includes popular brands like Kwality Wall’s, Cornetto, and Magnum and the demerger will lead to creation of a new entity – Kwality Wall’s (India) Limited (KWIL). According to the official announcement, HUL shareholders will get one equity share of KWIL for every one equity share owned in HUL. After demerger and listing, HUL shareholders will directly own 100 per cent of KWIL’s shareholding.