Livspace Lays Off 1,000 Employees in Shift to AI-Driven Operations
— thehansindia.com
Key Takeaway
Livspace has announced the layoff of 1,000 employees as part of its transition to an AI-driven business model. This move reflects a broader trend in the tech industry, where companies are increasingly adopting AI technologies, leading to significant job cuts.
Despite the job cuts, the company’s financial performance shows signs of improvement. Livspace’s revenue increased by 23 per cent to Rs 1,460 crore in FY25. At the same time, its losses narrowed significantly to Rs 242 crore, compared to Rs 416 crore in the previous year. The broader tech ecosystem has witnessed similar shifts, with companies such as Amazon, Microsoft, TCS, and Accenture announcing layoffs in recent months as they accelerate AI ...
Original reporting — we curate and summarize for context
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