New Delhi, May 26 (IANS) At least 27,000 tech employees of Indian startups have lost their jobs since the funding winter slipped last year, and the list is only growing.
Nearly 26,868 employees received pink slips from 98 startups, including unicorns led by edtech majors, according to data from leading startup news portal Inc42.
At least 22 edtech startups have cut 9,781 jobs so far.
In the first five months of 2023, more than 8,000 employees lost their jobs in India by nearly 50 startups.
Local virtual event platform Airmeet has laid off around 30% of its workforce, or at least 75 employees, according to the report.
Enterprise expense management platform Happay, owned by credit card bill payment provider CRED, has cut nearly 35% of its workforce as part of a restructuring exercise.
Another local edtech startup, Teachmint, has laid off more than 70 employees, its second round of job cuts after laying off around 45 workers more than five months ago.
Chennai-based edtech startup Skill-Lync has laid off employees as it consolidates its operations in Chennai, Bengaluru and Hyderabad amid a global macro backdrop.
2023 has become the worst year for tech workers as nearly 2,000 tech workers – from big tech companies to startups – have been laid off globally so far, companies have announced. like Meta (NASDAQ:), BT, Vodafone and many more. further plans to lay off more employees in the coming months.
According to data from layoff tracking site Layoffs.fyi, 695 tech companies have opened doors to around 1.98 lakh employees so far this year.