Mumbai-based audiobook startup Kuku FM has laid off 80-100 permanent employees this week as part of a cost-cutting restructuring, with the overall impact extending to around 300 on-roll and off-roll staff. The content team, including writers and producers, was the most affected. The company, which more than doubled its revenue to INR 88 Cr in FY24 while narrowing losses, is likely shifting toward leveraging artificial intelligence for content creation. This move follows a $25 million Series C funding round last year and occurs amid similar restructuring by competitors in the audio content industry.
