Google, Microsoft-backed VerSe Innovation cuts 5% of workforce, reduces salaries

India’s VerSe Innovation — the $5 billion Indian startup behind news aggregator Dailyhunt, short-video platform Josh, and hyperlocal video app PublicVibe — has cut 150 employees, or 5% of its workforce of 3,000, TechCrunch has learned and confirmed.
The Bengaluru-based startup informed impacted employees on Friday and separately held a town hall meeting on Monday where it announced pay cuts to its remaining staff, people familiar with the matter told TechCrunch.
It’s a major turn for VerSe Innovation, which is backed by the likes of Google and Microsoft and raised more than $800 mi

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