VerSe Innovation copy Layoffs
Industry Media · Location Bengaluru · India · Subscribe (RSS)
VerSe Innovation copy has 1 publicly reported layoff round on record (most recent May 18, 2025). A total of about 350 employees were affected across these rounds.
Layoff history
VerSe Innovation, the Bengaluru-based parent of short-video app Josh and news platform DailyHunt, laid off approximately 350 employees in May 2025 as part of a strategic restructuring it framed as a "workforce realignment." The company said it planned to automate manual processes, cross-leverage talent across business units, and direct resources toward growth segments, with an eye on organic revenue growth and strategic acquisitions. VerSe posted FY24 total revenue of Rs 1,261 crore, cut its EBITDA burn 51% to Rs 710 crore, and narrowed its net loss 56% to Rs 814.8 crore. Leadership projected 75%-plus revenue growth for FY25. The round was the company's third known reduction, following cuts of about 150 employees in late 2022 and 50 to 70 in 2024. No severance terms were disclosed.
Reason: workforce realignment to accelerate AI investment and cut costs
Source: inc42.com
Data for VerSe Innovation copy is compiled from public WARN Act filings and reporting linked above. See our methodology.