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Wednesday, April 17 2024
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Bengaluru: Over 24,250 Indian techies lose jobs at 84 startups

Startups find it difficult to raise funds, investors step back
Photo Credit : IANS

Bengaluru: There is no stopping layoffs at the Indian startups and more than 24,250 employees have so far lost their jobs in the homegrown start-up ecosystem.

According to latest data from leading startup coverage portal Inc42, 24,256 employees have been laid off by 84 startups till date.

The list of startups sacking employees is only growing in the country.

Leading digital healthcare platform Practo has laid off 41 employees, mostly engineers, as part of the company’s continuous performance management and planning process, as the funding winter continues.

Homegrown quick-grocery delivery provider Dunzo 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.

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.

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”.

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