A Pay Cut and 150 Layoffs are Announced at Verse Innovation

 


Original Content- Business Upside India 

An Indian company, Verse Innovation, which built news aggregator Dailyhunt, short video platform Josh, and hyperlocal video tool PublicVibe, laid off 150 workers, or 5% of its 3,000 employees.

Sources report that the change will increase efficiency and reduce costs. For workers making more than Rs 10 lakh annually, the corporation has imposed a pay cut of up to 11%.

About Verse Innovation

Employees with knowledge of the situation said that the Bengaluru-based company notified affected employees on Friday and announced salary cuts to its remaining employees separately on Monday. The Bengaluru-based startup’s co-founders, Umang Bedi and Virendra Gupta stated in a town hall meeting that it has decided to fire 150 workers or 5% of its workforce. Additionally, they disclosed an 11% wage reduction for the remaining workers making at least ten lakhs annually.

Read More 

Comments

Post a Comment

Popular posts from this blog

The Best Kitchen Tools In India

Image
  Indian homemakers spend quite a lot of time in their kitchens preparing a variety of delectable dishes . It must be easy to use and pleasant to look at. Adding a few small touches to the kitchen may make it both visually appealing and useful. Modern kitchens benefit greatly from the placement of kitchen accessories, which allow us to better decorate and organize our kitchens. Kitchen gadgets make the job easier and more enjoyable. And if you're a busy person who doesn't always have the time or energy to prepare, this is even more critical. For people who cook frequently, kitchen accessories are a must-have, making it easy to locate tools, plates, and cookware . There are a wide variety of culinary accoutrements to choose from. Kitchen accessories are modest but essential gadgets that make cooking easier. Make a meal at home once and you'll see just how much your life will be improved by kitchen equipment. India's top kitchen accessory brands ●      ...
Read more

Bootstrapped Start-ups And Fashion Wears: Where Do We Stand In The Post Pandemic Times?

Image
  India is a country with traditional clothing design which presents unique couture and has a cultural impact on the wearers. A type of Indian fashion emerges from Western culture. To include the conventional look and create a modern fashion statement embroidery is applied to different garments to review the influence of western culture along with the Indian Tradition.   People these days are very concerned about fashion. Online shopping has been a trend for quite a while now. It is a lot less time-consuming and easy to use. We know for a fact that online shopping stations such as Sarfaraz or Berrylush are over online shopping sites as Myntra or Amazon. Here we will know about how easy it is to shop from different fashion brands from all over the world and how we can easily ship products from different locations to your door. Isn't that amazing? And therefore we are very happy to help out a new bootstrapped start up .   Wearing Bootstrapped Start-ups nowadays ...
Read more

Fine Penny Cryptocurrency to Invest In 2022 – Recognise Your Alternatives

Image
  A cryptocurrency  is an encrypted facts string that denotes a unit of currency. It's monitored and organised through a peer-to-peer community called a blockchain, which also serves as an open ledger of transactions, e.g., shopping for, selling, and transferring. Penny Cryptocurrency to invest Penny cryptocurrencies are altcoins that you could purchase for much less than $1. They are much like penny shares as they're generally reasonably priced to buy and maybe pretty risky. But penny cryptocurrencies can make robust profits. Like penny shares, penny cryptocurrencies trade for a few pennies or less than $5 constant with the unit. Notwithstanding being excessive-hazard investments because of their small market capitalisation, they're pretty priced to put money into. Notwithstanding the truth that the penny crypto is to put money into ought to have the capability for price increment over time. Best penny cryptocurrency to invest The cryptocurrency enterprise is developing at...
Read more