Dailyhunt parent to fire 350 staff in AI-led pivot

VERSE INNOVATION, THE parent company of content platform Dailyhunt and short video app Josh, announced it will cut approximately 350 jobs globally as part of a broader restructuring effort that includes automating several manual processes to achieve efficiency and profitability by the end of this financial year.

- FE BUREAU

The company is doubling down on automation to replace manual processes, in line with global trends that favor leaner, tech-driven operations.

The layoffs, the company said, are part of a "well thought through comprehensive plan" designed to align VerSe's strategy and organizational structure with its long-term priorities and growth objectives.

"Building on this momentum, VerSe Innovation projects over 75% revenue growth in FY25, outpacing the anticipated 10-15% growth rate of the Indian digital advertising sector," a company spokesperson said.