Conversational AI platform Gupshup has laid off 300 employees over the past 18 months, citing efforts to streamline operations and drive profitable growth following a period of rapid expansion. According to a report by Economic Times, the company confirmed the layoffs in a statement, emphasising that the move was part of a broader consolidation strategy.
Gupshup layoffs : What the company saidGupshup had rapidly expanded its workforce to 1,500 employees since 2021, fuelled by five acquisitions and lateral hiring. However, as the company integrated these acquired firms, it sought to optimise efficiency, leading to workforce reductions.
A spokesperson for Gupshup stated, “Over the past 18 months, through a combination of additions and reductions, our net employee count has been reduced by 300. As always, we handle every discussion with empathy and respect, providing support and following HR processes.”
The company assured that affected employees received severance benefits, including notice period pay and continued employment benefits. However, Gupshup did not disclose which teams or locations were impacted. It also clarified that there are no plans for further layoffs at this time.
Earlier reports suggested that Gupshup had laid off 200 employees in a restructuring exercise earlier this month, bringing the total number of layoffs to 500. However, Gupshup denied this claim.
Gupshup’s market positionFounded in 2004, Gupshup provides messaging APIs and conversational AI tools to businesses. The company has increasingly focused on AI-powered customer engagement solutions, securing backing from investors such as Tiger Global and Fidelity. It has raised approximately $484 million in funding.
Following its $100 million Series F round in 2022, Gupshup acquired several firms in the conversational AI space, including AskSid, OneDirect, Knowlarity, Active.ai, and Dotgo.
For the financial year ending March 2023, Gupshup reported revenues of Rs 1,624.5 crore and a net profit of Rs 49.2 crore.
Gupshup layoffs : What the company saidGupshup had rapidly expanded its workforce to 1,500 employees since 2021, fuelled by five acquisitions and lateral hiring. However, as the company integrated these acquired firms, it sought to optimise efficiency, leading to workforce reductions.
A spokesperson for Gupshup stated, “Over the past 18 months, through a combination of additions and reductions, our net employee count has been reduced by 300. As always, we handle every discussion with empathy and respect, providing support and following HR processes.”
The company assured that affected employees received severance benefits, including notice period pay and continued employment benefits. However, Gupshup did not disclose which teams or locations were impacted. It also clarified that there are no plans for further layoffs at this time.
Earlier reports suggested that Gupshup had laid off 200 employees in a restructuring exercise earlier this month, bringing the total number of layoffs to 500. However, Gupshup denied this claim.
Gupshup’s market positionFounded in 2004, Gupshup provides messaging APIs and conversational AI tools to businesses. The company has increasingly focused on AI-powered customer engagement solutions, securing backing from investors such as Tiger Global and Fidelity. It has raised approximately $484 million in funding.
Following its $100 million Series F round in 2022, Gupshup acquired several firms in the conversational AI space, including AskSid, OneDirect, Knowlarity, Active.ai, and Dotgo.
For the financial year ending March 2023, Gupshup reported revenues of Rs 1,624.5 crore and a net profit of Rs 49.2 crore.
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