India, Feb. 21 -- Saurabh Jain, co-founder of Bengaluru-based Livspace, has stepped down from his position as the CEO. In a LinkedIn post, he hinted at "working on something new" without explicitly mentioning the reason behind his exit. This came amid the reports of the company laying off over 1,000 employees, nearly 12 percent of its total workforce.

Livspace in a statement to HT.com said that the company is fundamentally reorganising its internal operations to become an AI-native agentic organisation.

The spokesperson added, "To be clear, this isn't a reactive cost-cut. It's a strategic reallocation of resources."

"After more than a decade building Livspace, I'm stepping into my next chapter with pride in what we've created and clari...