Indian startups to lose over 27,000 employees by 2022: Report


At least 27,000 tech workers at Indian startups have lost their jobs since winter funding last year, and the list is only growing.

According to data from leading startup news portal Inc42, around 26,868 employees have been handed pink slips by 98 startups, including unicorns led by edtech majors.

At least 22 edtech startups have cut 9,781 jobs so far.

In the first five months in 2023, over 8,000 employees lost their jobs in India by around 50 startups.

According to reports, homegrown virtual events platform Airmeet has laid off around 30 per cent of its workforce or at least 75 employees.

Corporate expense management platform Happe, owned by credit card bill payment provider CRED, cut its workforce by around 35 per cent as part of a restructuring exercise.

Another homegrown edtech startup Teachmint laid off over 70 employees, its second round of job cuts after sacking around 45 employees more than five months ago.

Chennai-based edtech startup Skill-Lync lays off employees as it consolidates operations in Chennai, Bengaluru and Hyderabad amid global macroeconomic conditions.

The year 2023 turns out to be the worst year ever for tech workers as nearly 2 lakh tech workers – from Big Tech firms to startups – are set to be sacked globally, as companies like Meta, BT, Vodafone and many more Announced layoff plans. staff in the coming months.

According to data from layoff tracking site, 695 tech companies have laid off around 1.98 lakh employees so far this year.


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