Startup layoffs may worsen as investor pressure mounts
2 years, 7 months ago

Startup layoffs may worsen as investor pressure mounts

Live Mint  

MUMBAI : The startup sector could let go of about 5,000 employees over the next couple of quarters as they face pressure from investors to improve bottom lines and focus on the core business, recruiters said. Overall, the sector may continue to hire but there is investor pressure on several e-commerce and edtech firms," said Shiv Agrawal, managing director, ABC Consultants. In April, Unacademy said it let go of nearly 800 employees, including those from PrepLadder, which the edtech firm had acquired last year. We plan to hire close to 1,000 employees this year, which includes doubling our tech team," a Meesho spokesperson said.

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History of this topic

India's Tech Sector Insights & Trends: 190,000 Layoffs, 37,000 In Startups In 3 Yrs
8 months, 2 weeks ago

India's Tech Sector Insights & Trends: 190,000 Layoffs, 37,000 In Startups In 3 Yrs

News 18  

Google’s recent layoff confirmation, purportedly encompassing its entire Python team, mirrors a broader trend in the tech sector job market. Ramesh Alluri Reddy, CEO of TeamLease Degree Apprenticeship, which is TeamLease’s flagship blended learning programme designed to bridge the skill gap in the workforce, shared insightful data with News18 about the layoffs, job creation, and evolving trends, offering insights into …

These 46 tech companies layoff 7,500 employees in first 2 week of 2024
1 year ago

These 46 tech companies layoff 7,500 employees in first 2 week of 2024

India TV News  

It's just two weeks to 2024, and tech companies have already started to lay off employees from the companies. As per the latest data from layoff.fyi, a website that tracks tech sector job cuts, 46 tech companies laid off 7,528 employees. Tech companies, including startups, around the world fired more than 425,000 employees in 2022 and 2023, with more than …

Around 24,250 Indian techies lose jobs at 84 startups till date: Know the reason why?
1 year, 9 months ago

Around 24,250 Indian techies lose jobs at 84 startups till date: Know the reason why?

India TV News  

Since the year got started, we are bombarded with the news of layoffs, job loss, company's planning for cost-cutting and whatnot. The reports have stated that the leading digital healthcare platform like Practo has laid off 41 employees, who are mostly engineers, as part of the company's continuous planning process and performance management. Image Source : FREEPIKAround 24,250 Indian techies …

Indian edtech sector still attractive for investors: GSV Ventures
1 year, 10 months ago

Indian edtech sector still attractive for investors: GSV Ventures

Live Mint  

India is still one of the world's most exciting markets for education technology investors, says venture capital firm GSV Ventures, sounding an upbeat tone for a sector still reeling from massive layoffs and a funding crunch. These are very early days for the Indian edtech market," Deborah Quazzo, managing partner at GSV, told Reuters on the sidelines of the Emeritus-GSV …

INDUSTRY | Will IT lay-off wave crash into Indian shores?
1 year, 11 months ago

INDUSTRY | Will IT lay-off wave crash into Indian shores?

The Hindu  

Published : Feb 09, 2023 10:25 IST It was a New Year gift that the employees of Big Tech did not see coming. “If a small company like mine has been told not to hire high-skilled workers, then it can happen anywhere.” Alagunambi Welkin, general secretary of the Union of IT and IT-ES Employees, said that it was odd that …

IT, startups may cut up to 20,000 jobs in next 6 months
1 year, 11 months ago

IT, startups may cut up to 20,000 jobs in next 6 months

Live Mint  

India’s IT and startup sectors may lay off 15,000 to 20,000 employees in the next six months, battling slowing demand after the hiring frenzy of the last two years inflated salary costs. Over the last year, companies faced the fear of missing out on talent hiring and recruited in large numbers and paid them many folds more than inflation and …

Hiring freeze at Big Tech unlocks talent pool for U.S. startups
2 years, 3 months ago

Hiring freeze at Big Tech unlocks talent pool for U.S. startups

The Hindu  

Late-stage U.S. startups are scooping up talent unlocked by layoffs and hiring freezes at Big Tech, adding experienced engineers and project managers to their roster despite signs of an economic slowdown. Companies, with steady cash flow from viable products in the market, are offering rich packages to lure talent that would have otherwise preferred working at big technology firms including …

As pandemic boom fades, can ed-tech startups survive?
2 years, 7 months ago

As pandemic boom fades, can ed-tech startups survive?

Business Standard  

As the pandemic receded, the business models of India’s ed-tech startups have started to unravel. The pandemic helped this sector as much of the country’s $180 billion education sector went online. BYJU’S last year acquired 32-year-old Aakash Educational Services in a $1 billion deal, marking its foray into the offline education market with 200 plus centres. Ankur Pahwa, EY’s India …

Startup Layoffs: Overall Funding Is No Less This Year, But Why Firms are Firing Employees
2 years, 7 months ago

Startup Layoffs: Overall Funding Is No Less This Year, But Why Firms are Firing Employees

News 18  

Although start-ups are resorting to lay-off of employees as they cite cost-cutting as the primary reason, data show that the overall funding for these new-generation enterprises during January-April this year is almost the same as last year and even the number of companies raising over USD 100 million is also higher than last year. Interestingly, the data showed that the …

65,861 recognised startups in India, a steep rise from 726 in 2016: Govt
2 years, 9 months ago

65,861 recognised startups in India, a steep rise from 726 in 2016: Govt

India Today  

The government's sustained efforts have resulted in an increase in the number of recognised startups from 726 in 2016-17 to 65,861 as of March 14 this fiscal, according to a report presented to Parliament on Friday. "Sustained government efforts in this direction have resulted in increasing the number of recognised startups from 726 in FY 2016-17 to 65,861 in FY …

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