Mumbai-based audiobook platform Kuku FM has laid off 80-100 employees as part of a restructuring carried out this week.
This process affected the employees of the company as well as the contract employees.
In total, 300 employees lost their jobs. The biggest impact of the layoffs has been on the content team, which includes writers and producers.
The number of people losing their jobs is likely to go up.
According to reports, Kuku FM has taken this step as part of reducing costs and in the future, it is expected to produce content using AI.
Founded in 2018 under the leadership of Bisu, Vikas Goyal and Vinod Kumar Meena, Kuku FM provides audiobooks to users across different categories.