Dailyhunt and Josh parent firm VerSe Innovation lays off 150 employees

VerSe Innovation, the parent company of Dailyhunt and short-form video platform Josh, has laid off nearly 150 employees in a bid to “streamline” its costs and teams.

The layoffs impacted about 5 per cent of a 3,000-strong workforce at VerSe Innovation, which in April raised $805 million from global investors, taking its valuation to $5 billion.

Sources told IANS that given the current economic climate, the company evaluated its strategic priorities, and conveyed the decision during a town hall meeting addressed by the company’s co-founders, Virendra Gupta and Umang Bedi.