Indian Startups Have Fired 11,5000 Employees In 2022 (Till July); 32,000 Tech Employees Fired In The US
As of July 2022, almost 32,000 tech workers have been laid off in the US.
This includes the employees at Big Tech companies like Microsoft and Meta (formerly Facebook).
Worse Is Not Over
But guess what! The worst has not been over yet for the tech sector that has seen massive stock sell-off.
As of late July, more than 32,000 workers in the US tech sector have been laid off in mass job cuts, as per the data compiled by Crunchbase.
The analysis mentioned that “it has included both startups and publicly traded companies that are based in the US. It has also included companies based elsewhere that have a sizable team in the United States, such as Klarna,”.
The firms who have participated in these layoffs include ride-sharing platform Uber, Netflix and several cryptocurrency exchanges and lending platforms.
Layoffs In Technology Firm
When it comes to tech companies, Robinhood, Glossier and Better are just a few of the firms that have trimmed their headcount this year.
More than 43,000 workers from 342 tech companies/startups have been laid off across the world since April 1 this year.
Out of them, over 13% are from India, according to latest data compiled by layoffs.fyi website.
Basically, this is a website that tracks layoffs in startups.
Layoffs In India
Coming to India, more than 25,000 startup workers have lost jobs since the pandemic began.
Also, more than 11,500 have been fired this year.
Mainly includes edtech companies like Unacademy (1,150 employees), BYJU’S (550 at Toppr and Whitehat Jr) and Vedantu (624).
The list also includes the ride-hailing platform Ola (nearly 500), healthcare startup MFine (600) and pre-owned cars platform Cars24 (600), among others.
Besides these, Meesho, MPL, Trell and Blinkit (now owned by Zomato), among others are the Indian startups and unicorns that have laid off employees.