iWorld
Eros Now partners with The Mobile Wallet
MUMBAI: Eros Now, the cutting-edge digital over-the-top (OTT) South Asian entertainment platform owned by Eros International Plc (NYSE: EROS) (“Eros” or the “Company”), a Global Indian Entertainment Company, today announced its partnership with TMW Fintech Pvt Ltd’s ‘The Mobile Wallet’ – India’s fast-growing financial technology service that makes daily transactions easy as users never have to reach for their physical wallets. As part of the partnership, The Mobile Wallet users can take advantage of a special offer and enjoy Eros Now’s massive entertainment library which consists of over 12,000 movie titles, original series, music videos, short form content (Eros Now Quickie) and more.
Eros Now is the first and only online video streaming platform that can be accessed in the newly introduced ‘Entertainment’ tab of ‘The Mobile Wallet’, a doorway to entertainment for over 2.5 million active users of the digital wallet.
Speaking on the partnership, Rishika Lulla Singh, Chief Executive Officer, Eros Digital, said, “The Fintech industry has witnessed immense growth in India and this partnership solidifies the continual innovation of both Eros Now and The Mobile Wallet to enhance user experience. The collaboration will enable us to cater to the potential online video streaming audience by offering them a wide array of entertainment content to choose from. The newly curated ‘Entertainment’ tab featuring Eros Now also adds a new dimension to the unique offerings of The Mobile Wallet and promises to further engage its users.”
Mr. Vinay Kalantri, Founder & Managing Director, TMW Fintech Pvt Ltd, said, “The blend of financial solution with entertainment strengthens our unique offerings portfolio. The additional engagement that this partnership will drive also promises the growth of technological infrastructure. We are glad to partner with Eros Now and introduce an ‘Entertainment’ category.”
iWorld
Meta plans 8,000 layoffs in new AI-led restructuring wave
First phase from May 20 may cut 10 per cent workforce amid AI pivot.
MUMBAI: At Meta, the future may be artificial but the cuts are very real. The social media giant is reportedly preparing a fresh round of layoffs, with an initial wave expected to impact around 8,000 employees as it doubles down on its artificial intelligence ambitions. According to a Reuters report, the first phase of job cuts is slated to begin on May 20, targeting roughly 10 per cent of Meta’s global workforce. With nearly 79,000 employees on its rolls as of December 31, the move marks one of the company’s most significant workforce reductions in recent years.
And this may only be the beginning. Sources indicate that additional layoffs are being planned for the second half of the year, although the scale and timing remain fluid, likely to be shaped by how Meta’s AI capabilities evolve in the coming months. Earlier reports had suggested that total cuts in 2026 could reach 20 per cent or more of its workforce.
The restructuring comes as chief executive Mark Zuckerberg continues to steer the company towards an AI-first operating model, committing hundreds of billions of dollars to the transition. Internally, this shift is already visible: teams within Reality Labs have been reorganised, engineers have been moved into a newly formed Applied AI unit, and a Meta Small Business division has been created to align with broader structural changes.
The trend is hardly isolated. Across the tech sector, companies are trimming headcount while investing aggressively in automation. Amazon, for instance, has reportedly cut around 30,000 corporate roles nearly 10 per cent of its white-collar workforce citing efficiency gains driven by AI. Data from Layoffs.fyi shows over 73,000 tech employees have already lost jobs this year, compared with 153,000 in all of 2024.
For Meta, the move echoes its earlier “year of efficiency” in 2022–23, when about 21,000 roles were eliminated amid slowing growth and market pressures. This time, however, the backdrop is different. The company is financially stronger, generating over $200 billion in revenue and $60 billion in profit last year, with shares up 3.68 per cent year-to-date though still below last summer’s peak.
That contrast underlines the shift underway. These layoffs are less about survival and more about reinvention. As Meta restructures itself around AI from autonomous coding agents to advanced machine learning systems, the question is no longer whether the company will change, but how many roles will be left unchanged when it does.
