<ul><li>1% Club, the personal finance platform co-founded by Sharan Hegde and Raghav Gupta, has laid off 15% of its total workforce as part of an AI-led cost-saving initiative.</li><li>The layoffs were a result of rapid scaling, with the company growing from a five-person team to nearly 200 employees in just two years.</li><li>The affected employees have been provided with a healthy severance package and assistance in finding new job opportunities.</li><li>Despite the layoffs, the company remains financially strong, with annualized revenue of $8 million and an EBITDA of 35-40%.</li></ul>

Sharan Hegde’s 1% Club lays off 15% employees

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