Dailyhunt parent VerSe to lay off 350 employees this month in push for profitability

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Dailyhunt parent VerSe Innovation is laying off 350 employees this month as it plans to accelerate investments in artificial intelligence (AI) and streamline operations, it said on Saturday.

As part of this strategic transformation, the company will use AI to automate several manual processes to “increase operational efficiency”, according to a press statement.

The Bengaluru-based company is taking these steps to achieve profitability by the end of this financial year.

With these layoffs, VerSe Innovation joins other content-led startups that have…



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Dailyhunt parent VerSe to lay off 350 employees this month in push for profitability


Dailyhunt parent VerSe Innovation is laying off 350 employees this month as it plans to accelerate investments in artificial intelligence (AI) and streamline operations, it said on Saturday.

As part of this strategic transformation, the company will use AI to automate several manual processes to “increase operational efficiency”, according to a press statement.

The Bengaluru-based company is taking these steps to achieve profitability by the end of this financial year.

With these layoffs, VerSe Innovation joins other content-led startups that have…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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