News > Dailyhunt parent lays off 150 employees; announces pay cuts for those earning over Rs 10L pa

Dailyhunt parent lays off 150 employees; announces pay cuts for those earning over Rs 10L pa

Dailyhunt parent VerSe Innovation Pvt Ltd, which also runs short video app Josh, is laying off 5% of its 3,000 employees. The company, which was valued at $5bn in April 2022, called it a “regular bi-annual performance management cycle” that will see exits across VerSe. Besides laying off 150 employees, the vernacular content aggregator will also prune salaries by 11 per cent for those earning more than Rs 10 lakh per annum.