In India, over 21,000 workers have been laid off by over 70 start-ups including unicorns such as BYJU’S, Ola, MPL, Innovaccer, Unacademy, Vedantu, Cars24, OYO, Meesho and Udaan.
The edtech sector has laid off the most employees, with 16 edtech startups laying off over 8,000 employees to date.
As we enter January, more and more Indian companies are cutting jobs. In the new year, he has already laid off more than 16 domestic start-ups in the country.
Social media company ShareChat (Mohalla Tech Pvt Ltd) laid off 20% of its workforce due to uncertain market conditions.
Backed by Twitter, Google, Snap and Tiger Global, ShareChat has about 2,300 employees and the layoffs affected about 500 people in the company.
discover interesting stories
Healthtech unicorn Innovaccer laid off nearly 245 employees across its India and US teams, or about 15% of its workforce. Internal emails were sent to employees and accessed from leading startup news portal Inc42.
This was the second layoff in about four to five months amid deepening winter fundraising and growing fears of a recession.
Last September, Innovaccer laid off about 120 employees, less than 8% of its workforce.
Online food delivery platform Swiggy has confirmed that the company is laying off 380 employees as food delivery growth slows.
MediBuddy, an end-to-end digital healthcare platform in India, laid off 8% of its workforce, or around 200 people, across all departments as part of its restructuring.
Homegrown online auto repair platform GoMechanic, backed by Sequoia India, has laid off 70% of its workforce as the startup struggles to raise funding amid serious concerns over accounting issues.
The company reportedly asked the remaining employees to work without pay for three months.
Skit.ai, a software-as-a-service (SaaS) voice automation startup, has turned over 115 employees, mostly from its team in India, as part of a “restructuring process” as the funding winter deepens. requested to be dispatched.
Even IT giant Wipro laid off more than 400 new hires due to poor performance in internal assessment tests.