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Truecaller slashes 70 jobs amid declining ad sales

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Sweden-based caller ID company Truecaller said it will cut 70 jobs, or roughly 15% of its workforce, in the second quarter, as the company posted its Q1 2026 results with a decline in revenue and profits. Truecaller blamed real-money gaming in India, changes in advertising partner algorithms, and conflict in the Middle East for the slide.

As TechCrunch reported last month, the company is already facing challenges from India’s telecom-led solutions, such as Calling Name Presentation (CNAP) identification service, and 5% year-on-year decline in downloads last year.

In its Q1 2026 results, Truecaller’s net sales dropped 27% to 362 million SEK ($39.34 million). In its biggest market, India, net sales dipped by 41% year-on-year. In addition, ad revenues declined by 44%.

“The year-on-year comparison looks especially weak given that Q1 and Q2 last year included a large contribution coming from the real money gaming sector in India in connection with the IPL season that takes place around this time. The situation in the Middle East also reduced our revenues from that region,” Truecaller CEO Rishit Jhunjhunwala said during the earnings call.

Last August, India banned real-money gaming apps such as Dream 11 and MPL that allowed users to use money to play fantasy sports. Industry bodies estimated that the real-money gaming industry was worth $23 billion in India. Because of this shutdown, platforms on which these real-money apps are advertised were deprived of that revenue.

Truecaller also said that the revenue decline in the ad business was also due to a programmatic partner, identified as Google by an analyst earlier this year, changing its algorithms.

There were only a few positives for the company this quarter. First, it crossed the mark of 500 million active users. Plus, its subscription revenue increased by 27%, representing 31% of net sales. The company has been adding features like AI Assistant and Family Protection to make its paid offerings more attractive.

Truecaller’s stock has dipped by over 26% this year and by over 79% in the last 12 months. However, after the Q1 results, it has seen some recovery.

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ICJ Affirms Right to Strike as Global Landmark Victory, Sparks Debate Between Labor and NECA

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BY NKECHI NAECHE-ESEZOBOR—The organized labor movement on Monday hailed a recent ruling by the International Court of Justice (ICJ) confirming that the right to strike is implicit in Convention 87 as a landmark victory for workers worldwide.

However, the ruling has sparked a fresh domestic debate, with labor representatives strongly criticizing the Nigeria Employers’ Consultative Association (NECA) for attempting to downplay the judgment’s impact.

The controversy escalated following a television appearance by the Director-General of NECA, Mr. Adewale Smatt-Oyerinde.

Speaking on TVC, Oyerinde argued that the right to strike is not automatic and asserted that workers must still adhere strictly to existing local labor laws, specifically citing Section 43 of the Trade Dispute Act (TDA).

He also suggested that a meeting of social partners to establish complimentary conditions remains a necessary precondition before any strike action can be declared.

Labor representatives quickly fired back, labeling Oyerinde’s remarks as an “unnecessary academic exercise in futility” and a selective interpretation of international law. Critics accused the NECA boss of being economical with the historical background of the dispute, pointing out that the issue had already undergone exhaustive debate across various levels of the International Labour Organization (ILO).

The legal battle began when the global Employers’ Group challenged whether the right to strike was protected under Convention 87.

After the ILO Governing Board affirmed the right through a majority decision, the Employers’ Group appealed the matter to the ICJ. As the highest judicial body in the world, the ICJ’s subsequent ruling in favor of workers is considered definitive and legally binding.

Labor advocates emphasize that Nigeria ratified Convention 87 in 1960, signaling a long-standing commitment to its principles. They argue that following the ICJ’s conclusive verdict, both the Nigerian government and employer bodies like NECA are obligated to obey the law unconditionally rather than selectively hiding behind local statutes to weaken workers’ rights.

Reassuring the public and the business community, labor stakeholders maintained that a strike has never been the first option for workers, but rather a last resort. They cautioned that an adversarial interpretation of the ICJ ruling by employers would only harm industrial harmony, urging instead for mutual respect and total adherence to international legal frameworks to guide future industrial relations in Nigeria.

The post ICJ Affirms Right to Strike as Global Landmark Victory, Sparks Debate Between Labor and NECA appeared first on Business Today NG.

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What happens when companies become too AI-pilled?

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The people deciding that AI can replace your job are also the ones least likely to understand what your job truly involves, according to Box founder Aaron Levie, who pointed to this as an example of “AI psychosis.” Indeed, ClickUp recently cut 22% of its workforce for AI agents, tech layoffs in 2026 are already nearly matching all of 2025, and DuckDuckGo installs are climbing from users who want Google to stop forcing AI into search and just give them links. 

Watch as TechCrunch’s Equity podcast hosts Kirsten Korosec, Anthony Ha, and Sean O’Kane dig into what happens when the AI-pilled and the AI-skeptical are both right at the same time, plus three deals worth knowing about and Waymo’s new robotaxi hitting the road. 

Subscribe to Equity on YouTube, Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. 

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