VerSe Innovation cuts 350 jobs amid AI-transformation

CHENNAI: VerSe Innovation, the parent company of popular content platforms such as Dailyhunt and Josh, has announced a strategic reduction in its workforce by approximately 350 roles this month. This move is part of a broader transformation initiative aimed at ‘aligning the company’s operational structure with its long-term business goals, profitability targets, and technological evolution’.

This marks the company’s first major downsizing since its last round of layoffs two and a half years ago, which affected 150 employees. The current restructuring comes amidst a pivotal phase of growth and consolidation, centered around deep integration of artificial intelligence (AI) across the organisation.