AI firm Krutrim lays off nearly half of its workforce
This is the second round of layoffs by Krutrim this year. It earlier let go of the sales, go-to-market and business operations teams while the latest cuts have affected empliyees in the product and engineering teams.
Bhavish Aggarwal-led Krutrim has reportedly cut around 20 to 25 jobs, or almost half of its workforce.
This is the second round of layoffs at the Ola Group company this year. Krutrim earlier let go of the sales, go-to-market and business operations team while the latest cuts have affected product and engineering teams. The development was first reported by The Economic Times.
Responding to a media query by YourStory, Krutrim said in a statement, "Krutrim continues to be in an active phase of scaling its operations and, like any growing business, periodically reviews its team structure to align with evolving priorities. We do not have anything further to share on the specifics referenced in your query at this time.”
Last year, the company also repeatedly restructured its teams, which included exits of senior executives, followed by more than 100 job cuts in July. Another round of job cuts in September last year hit about 50 people in the linguistics team, including regional language specialists.
Earlier in May, the AI company repositioned as a focused domestic AI Cloud Services provider. The company reported revenues of approximately Rs 300 crore in FY26, a 3X increase over FY25, and its first annual net profit, with a profit after tax margin of over 10%.
In January 2024, Krutrim raised $50 million at a valuation of $1 billion, making it India’s first AI unicorn.
(Disclaimer: Shradha Sharma, Founder and CEO of YourStory, is an independent director in Ola Electric)