Livspace has laid off around 1,000 employees, nearly 12% of its total workforce, as part of a phased internal reorganisation. The firm said the move is aimed at becoming an AI-native organisation. However, the massive layoffs also come amid a lack of external funding over the past four years and the absence of a clear roadmap to profitability.
While the company said 12% of employees would be impacted, a report by Moneycontrol claimed the figure could be as high as 25%.
Livspace had previously reduced its workforce by 2% in March 2023, and in May 2020…
