Since the year got started, we are bombarded with the news of layoffs, job loss, company's planning for cost-cutting and whatnot. There are no stopping layoffs at the Indian startups and so far, it has been reported that around 24,250 employees have lost their jobs in their homegrown start-up ecosystem.
According to the latest data from leading startup coverage portal Inc42, 24,256 employees have been laid off by 84 startups to date.
The list of startups sacking employees is growing in India. The reports have stated that the leading digital healthcare platform like Practo has laid off 41 employees, who are mostly engineers, as part of the company's continuous planning process and performance management.
Around 24,250 Indian techies lose jobs at 84 startups till date
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Dunzo, a homegrown quick-grocery delivery provider has laid off at least 30 per cent of its workforce, nearly 300 employees after it raised $75 million in a fresh funding round.
According to reports, Bengaluru-based ZestMoney is laying off 20 per cent of its workforce, which will impact nearly 100 employees.
Homegrown fantasy e-sports startup FanClash has laid off about 75 per cent of its workforce, the media reported.
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According to Inc42, citing sources, the startup laid off about 100 employees in three rounds, with the impacted employees receiving a two-month salary as a severance package.
Late last month, Gaurav Munjal, Co-Founder and CEO of Unacademy, announced to reduce the size of the team by 12 per cent or more than 350 employees to "meet the goals we are chasing in the current realities we face".
The startups that lead the layoff tally include BYJU'S, Ola, OYO, Meesho, MPL, LivSpace, Innovaccer, Udaan, Unacademy and Vedantu, among others.
Around 24,250 Indian techies lose jobs at 84 startups till date
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Home interiors and renovation platform Livspace recently laid off at least 100 employees as part of cost-cutting measures.
SaaS platform for online stores Dukaan laid off nearly 30 per cent of its workforce, or around 60 employees -- its second layoff in nearly six months.
Healthcare unicorn Pristyn Care sacked up to 350 employees across departments and impacted employees from sales, tech and product teams.
Online higher education company upGrad laid off nearly 30 per cent of its workforce at its subsidiary "Campus".
Inputs from IANS
