Top tech and startup stories to start your day with

In today's ETtech Morning Dispatch, tech giants Oracle and Microsoft are restructuring their Indian workforces, with Oracle set to lay off 2,000-3,000 employees and Microsoft placing around 500 people on performance improvement plans. Zomato plans to cut 250 jobs as it shuts down its Hyderabad customer support center in a move to consolidate in-house support operations.

ITC Infotech is acquiring a 22.1% stake in Happiest Minds Technologies for Rs 1,330 crore to merge the two companies, creating a merged entity with ITC Limited holding 73.4% of the shares. Lastly, WestBridge Capital has offloaded PhysicsWallah shares worth Rs 120-130 crore since the six-month lock-in for pre-IPO investors expired, resulting in a 2.6x return on the investment.