As global layoffs deepen, Indian startups are not far late and have sacked thousands of employees in the past 3-4 months, with countless more to be given pink slips in the coming months amid deepening money winter.
In India, more than 21,000 employees take been laid off by more than 70 startups today, including from unicorns like Byju’s, Ola, MPL, Innovaccer, Unacademy, Vedantu, Cars24, Oyo, Meesho, Udaan besides many more.
The tech sector has laid off the most employees, with 16 edtech startups laying off more than 8,000 employees.
With the onset of January, additional and more Indian companies are slashing jobs across the spectrum. The new time has already seen more than 16 homegrown startup mailbag employees in the country.
Social media company ShareChat (Mohalla Tech Pvt Ltd) has laid off 20 percent of its workforce due to inexact market conditions.
Backed by Twitter, Google, Snap, and Tiger Global, ShareChat has nearly 2,300 employees, and the layoff stuck about 500 people at the company.
Healthtech unicorn Innovaccer has sacked nearly 245 employees across teams percent and the US or about 15 per cent of its workforce.
Innovaccer cofounder and CEO Abhinav Shashank quoted an “uncertain macroeconomic environment.