1 mins read“This is our first cost reduction exercise since our inception. We have identified significant cost savings through AI that can improve profitability and efficiency, and which can be reinvested into business growth,” said Sharan Hegde, CEO of the 1% Club, in an article on LinkedIn. To help the licensed For employees, the company offered severance pay based on seniority and extended support to find them jobs, he added.
Sharan Hegde lays off 15% of its employees and turns to AI for more profitability
Marvin Evans
Marvin Evans is a finance and fintech professional with 20 years of industry experience, including more than a decade working across the fintech sector. He is the founder of Fintech Bits and Finjobsly, and writes about fintech markets, financial technology, industry trends, innovation and the evolving fintech workforce. His analysis combines hands-on industry experience with data-led research to provide practical insight into the companies, technologies and trends shaping financial services.
