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Indian Startups layoffs: The symptoms of the Global Economic Recession have now become deeper than before. 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. During the last few years, at least 82 startups in India have laid off and thousands of people have become its victims.
layoffs around the world
According to layoffs.fyi, there is a huge layoff going on all over the world right now. 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.
All employees of these companies out
If you look at the account of startups, according to a report by Business Insider, 16 startups have fired 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. There are apprehensions that the number of layoffs in Indian startups will only increase.
These startups ahead in layoffs
Even among Indian startups, maximum layoffs 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.
Recent layoffs
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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