Over 70 Indian startups show the exit door to 21K techies, with more pink slips on the way
- ByStartupStory | January 30, 2023
As worldwide layoffs intensify, Indian companies are not far behind, having let off thousands of people in the last 3-4 months, with many more to follow suit in the coming months as the financing winter deepens.
More than 21,000 employees have been laid off by more than 70 firms in India to far, including unicorns such as Byju’s, Ola, Mpl, Innovaccer, Unacademy, Vedantu, Cars24, Oyo, Meesho, Udaan, and many more.
The edtech sector has laid off the most people, with 16 edtech businesses laying off almost 8,000 people.
With the arrival of January, an increasing number of Indian enterprises are laying off workers across the board. More than 16 domestic startups have already laid off staff in the country in the new year.
Due to uncertain market conditions, social media startup ShareChat (Mohalla Tech Pvt Ltd) has laid off 20% of its workers.
Twitter, Google, Snap, and Tiger Global are all on board.
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