Sharan Hegde, co-founder of The 1% Club, announced a 15% workforce reduction, citing mistakes made during rapid expansion and the role of AI in improving efficiency. The layoffs mainly affected content, research, and marketing jobs. Even with these cuts, the company is still profitable, making $8 million in annual revenue. AI tools like Perplexity AI have helped improve workflows and cut down on unnecessary tasks. Hegde assured the employees impacted by the layoffs that they received severance and support in finding new jobs.