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Indian startups have laid off over 30,000 employees since the beginning of 2022

Money Control · 1y

Since the beginning of 2022, Indian startups have laid off over 30,000 employees. In 2023 alone, approximately 49 startups have laid off nearly 13,000 employees. Layoffs have slowed down in recent months, but many startups have resorted to silent layoffs. Byju's, the world's most valued edtech startup, recently announced a restructuring exercise that could lead to the elimination of 4,000 to 5,000 jobs. The funding winter continues to impact startups, with more tough decisions expected to be made for survival.