Indian startups reportedly laid off over 23,000 employees amid pandemic and economic uncertainty

As the global economic recession continues to worsen, many Indian startups are feeling the impact, resulting in a significant increase in the number of layoffs. Recent reports indicate that at least 82 startups in India have laid off over 23,000 employees, with the numbers expected to rise.

Among these layoffs, 19 ed-tech startups, including four unicorns, have alone sacked more than 8,460 employees to date, according to a report by Inc42. Startups such as BYJU'S, Ola, OYO, Meesho, MPL, LivSpace, Innovaccer, Udaan, Unacademy, and Vedantu are among the ones leading the layoff tally.

Livspace, a home interiors and renovation platform, recently laid off at least 100 employees as part of its cost-cutting measures.

Similarly, Dukaan, an SaaS platform for online stores, laid off around 60 employees, which is nearly 30 per cent of its workforce, in its second layoff within six months.

Pristyn Care, a healthcare unicorn, has also sacked up to 350 employees from its sales, tech, and product teams. Meanwhile, upGrad, an online higher education company, laid off nearly 30 per cent of its workforce at its subsidiary "Campus."

In February, FarEye, an end-to-end global delivery management platform, laid off 90 employees, which was its second layoff in about eight months amid the economic meltdown.

ShareChat, a social media company, laid off 20 per cent of its workforce, which impacted around 500 people at the company. The layoffs were due to the uncertain market conditions caused by the pandemic.

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