Indian Startups layoffs: The symptoms of the Global Economic Recession are now deeper than ever. Its effect is also visible in India. Especially Indian startups are more troubled by the economic slowdown and for this reason they are resorting to layoffs. At least 82 startups in India have laid off thousands of people in the recent past.
Layoffs underway across the world
According to Layoffs.FYI, Right now there is a phase of huge layoffs going on all over the world. Talking about tech companies, 84,714 people were laid off in January this year and 36,491 employees were laid off in February. In the month of March, apart from Accenture and InDeed, RoofStock, Twitch, Amazon, LivSpace, Course Hero, Clavio, Microsoft Companies like Facebook’s parent company Meta, Y Combinator, Salesforce, Atlassian, Sirius XM, Allergo, Cerebral, Waymo, Thoughtworks have been laid off. Statistics show that tech companies all over the world have laid off more than 1.50 lakh people so far this year. According to a report by Business Insider, 16 startups have laid off 100 percent of their employees so far this year. Three of these startup companies are from India. Bengaluru-based WeTrade and DUX Education and Chennai-based Fipola have laid off all their employees. The number of layoffs in Indian startups is expected to increase.
These startups ahead in layoffs
Most of the layoffs among Indian startups are happening in the edutech sector. According to a report by Inc42, 19 startups in this sector have laid off so far, out of which only four unicorns have laid off around 8,500 people. According to the news, Byju’s (BYJU’S), Ola (Ola), Oyo (OYO), Meesho (Meesho), MPL (MPL), LivSpace (LivSpace), Innovaccer (Innovaccer), Udaan (Udaan) Names like Unacademy and Vedantu are ahead.
Home interior company Livspace has recently laid off around 100 people. Similarly, the shop (DuKaan) has fired 60 people in the second round of retrenchment. Healthcare unicorn Pristyn Care has laid off 350 employees. At the same time, Global Delivery Management Company FarEye has removed 90 people from work in the month of February. Social media company ShareChat has shown the way out to 20 percent of its employees.
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