VerSe Innovation lays off 350 employees in AI-driven restructuring move

New Delhi: VerSe Innovation, the parent company of the news aggregator Dailyhunt and short-video platform Josh, will be reducing its workforce by approximately 350 employees this month. 

The move, described as a “strategic transformation,” aims to streamline operations, enhance profitability, and accelerate the company’s focus on artificial intelligence (AI) integration.

In a statement released on Saturday, a VerSe spokesperson said, “The company is undergoing a strategic transformation to build a more agile, focused, and future-ready organisation.” The layoffs, which mark the company’s largest downsizing since a reduction of 150 roles two and a half years ago, are part of a broader effort to automate manual processes and align with global digital trends.

The restructuring comes as VerSe doubles down on AI-led initiatives to drive growth and operational efficiency. The company is investing heavily in platforms like NexVerse.ai, an AI-powered AdTech solution, Dailyhunt Premium (launched in partnership with Magzter), and VerSe Collab, a tool for managing influencer campaigns. These efforts are projected to fuel a revenue growth of over 75% in FY25, surpassing the anticipated 10-15% growth in India’s digital advertising sector.

VerSe has stated it will cross-leverage talent across business units to optimise resources, but details on severance packages or support for impacted workers remain unclear. The move places VerSe alongside other Indian digital content giants navigating profitability pressures in a competitive market.