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Dailyhunt fires 5% of its 3,000-strong workforce
Financial Express Mumbai
|November 29, 2022
INITIATES 11% PAY CUTS FOR FEW EMPLOYEES
VERSE INNOVATION, WHICH owns and operates content and news app platform Dailyhunt, on Monday laid off around 150 employees or about 5% of its workforce citing changes in economic conditions. Dailyhunt also implemented an 11% salary cut for all individuals with salaries above ₹10 lakh per annum.
Umang Bedi, co-founder, Verse Innovation, said the company is evaluating its strategic priorities in the economic climate. "Considering the long-term viability of the business and our people, we have taken steps to implement our regular bi-annual performance management cycle & made performance & business considerations to streamline our costs and our teams. This has impacted 5% of our 3,000-strong workforce," Bedi added.
Dit verhaal komt uit de November 29, 2022-editie van Financial Express Mumbai.
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