Is VerSe Innovation Really Laying Off 350 Employees?
Click to start listening
Synopsis
In a strategic move to enhance efficiency and profitability, VerSe Innovation, parent company of Dailyhunt and Josh, reveals plans to lay off 350 employees. This bold restructuring aims to align with future trends, particularly in AI investments.
Key Takeaways
- VerSe Innovation plans to lay off 350 employees in a restructuring effort.
- The company aims to enhance operational efficiency and focus on artificial intelligence (AI).
- It reduced its EBITDA loss by 51 percent in FY24.
- Projected revenue growth for FY25 is over 75 percent.
- Investments are being made in AI-driven tools and platforms.
New Delhi, May 17 (NationPress) VerSe Innovation, the parent organization of the content platform Dailyhunt and the short-video application Josh, plans to implement layoffs affecting around 350 employees this month as part of a larger restructuring initiative. This action aims to enhance operational efficiency, streamline processes, and heighten profitability as the company intensifies its investment in artificial intelligence (AI).
On Saturday, a spokesperson for the company stated that VerSe Innovation is undergoing a strategic transformation to establish a more agile and future-ready organization. The restructuring is part of a comprehensive plan that includes significant investments in AI, aligning the company’s framework with its long-term objectives, and reallocating resources to high-growth sectors.
As a result of this overhaul, VerSe is automating numerous manual tasks to enhance operational efficiency and remain competitive within global digital trends. The spokesperson highlighted that the company will streamline its workforce by approximately 350 roles this month, while ensuring that talent is cross-leveraged across various business units for optimal resource utilization.
The organization stressed that these initiatives are aimed at achieving a path to profitability by the conclusion of FY25. In FY24, VerSe made notable strides, reducing its EBITDA loss by 51 percent from Rs 1,448 crore in FY23 to Rs 710 crore. This decline was attributed to strategic cost management, including reductions in service and marketing expenditures, with total revenue for FY24 recorded at Rs 1,261 crore.
Looking toward the future, VerSe remains optimistic about its growth trajectory, projecting over 75 percent revenue growth in FY25, significantly outpacing the anticipated 10-15 percent growth expected in India’s digital advertising industry. This positive outlook is supported by investments in new AI-driven tools and platforms, such as its AdTech initiative NexVerse.ai, the subscription-based Dailyhunt Premium (launched in collaboration with Magzter), and VerSe Collab, which facilitates influencer campaign management.
Point of View
I believe that while layoffs are always challenging, VerSe Innovation's restructuring indicates a strong commitment to adapting to the evolving digital landscape. This move could pave the way for future success and sustainability in a competitive market.
NationPress
09/06/2025
Frequently Asked Questions
What is the reason for the layoffs at VerSe Innovation?
The layoffs are part of a broader restructuring effort aimed at streamlining operations, enhancing efficiency, and focusing on profitability, especially through investments in artificial intelligence.
How many employees are being laid off?
Approximately 350 employees will be laid off as part of this restructuring initiative.
What was the EBITDA loss of VerSe Innovation in FY24?
VerSe Innovation reduced its EBITDA loss by 51 percent, bringing it down to Rs 710 crore in FY24.
What growth does VerSe project for FY25?
VerSe Innovation projects over 75 percent revenue growth for FY25, significantly exceeding the expected growth in India’s digital advertising sector.
What initiatives is VerSe focusing on for future growth?
VerSe is investing in AI-driven tools and platforms, such as NexVerse.ai, Dailyhunt Premium, and VerSe Collab, to support its growth strategies.
