VerSe Innovation, parent of DailyHunt and Josh, has laid off 350 employees to streamline operations and focus on AI investments.
The layoffs are part of a strategic restructuring aimed at increasing operational efficiency and focusing on long-term growth.
Deloitte recently highlighted weaknesses in VerSe’s internal financial controls in its FY24 audit report.
Despite challenges, VerSe projects over 75% YoY revenue growth in FY25, driven by AI platforms and strategic acquisitions.
This follows a trend of layoffs in the tech sector, with other companies like Cars24 and Gupshup also announcing job cuts.
Source: Inc42
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tl;dr
Reason - the team wants to accelerate timeline to profitability To those affected really sorry this community is here for you!
