India, May 18 -- VerSe Innovation, the parent of DailyHunt and Josh, has laid off nearly 350 employees as part of a broader "strategic" restructuring exercise.

In a statement, a company spokesperson attributed the layoffs to "workforce realignment" to accelerate investments in AI, streamline operations, and focus on long-term priorities and growth.

"To build a more future ready organisation where talent is cross leveraged across business units and resources are directed towards growth segments, the company will streamline its workforce by approximately 350 roles this month," the spokesperson added.

VerSe said it will now focus on automating several "manual processes" to increase operational efficiency and building a "more future ready ...