InMobi has cut about 125 jobs, or 5% of its workforce, with the marketing tech unicorn citing artificial intelligence as the cause.
The Economic Times broke the news first.
"As artificial intelligence has been sweeping the world, the market needs and expectations that our customers—brands, agencies and developers—have of us are changing rapidly," a spokesperson for the company told NDTV Profit.
"The products for addressing market needs and customer expectations, the skillsets for delivering those products, and the go-to-market strategies are going to be significantly different from those of the past decade. The changes that we are bringing in at the organisation level are a proactive step for us to address the above needs, stay competitive and win globally in this decade and beyond," they added.
This is the company's second layoff in about a year's time. Last January, it cut 50–70 jobs, citing an annual performance review.
In December, fintech giant Paytm laid off several employees, saying it would save 10-15% in employee costs as AI had "delivered more" than it expected.
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