Layoffs decline 80% among startups in 2024
4 days ago

Layoffs decline 80% among startups in 2024

Deccan Chronicle  

The end of funding winter helped the startups stabilise in 2024 as the number of layoffs witnessed an 80 per cent drop against the previous year. However, startups shutting shop remained unabated indicating that investors were choosy about their funding plans.In 2024, the startup ecosystem saw around 4,700 employees being laid off. Swiggy ranked third with 350 affected employees, while Unacademy and WayCool shed 250 and 200 employees, respectively.Although the number of layoffs saw a sharp decline, shutdowns in 2024 rose to 17 compared to 15 recorded in 2023. Kenko Health closed down in August after running out of funds and failing to secure the insurance licence from IRDAI.Further, in 2024 the startup ecosystem saw notable leadership transitions, with over 100 senior executives, including CEOs, MDs, CPOs, and co-founders, stepping down.

2024 Layoffs  remained  employees  funding  80  saw  startups  million  decline  layoffs  2023  2024  200

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India sees more startups encashing Esops in 2024 in pre-IPO, secondary deals
1 week, 2 days ago

India sees more startups encashing Esops in 2024 in pre-IPO, secondary deals

Live Mint  

Employees of unlisted startups made a tidy sum from their ownership of employee stock options in 2024, with 26 such companies buying back the Esops in pre-listing and secondary transactions. “We have seen increased activity surrounding Esop liquidity in 2024 vs 2023," Qapita’s senior vice president Vikram Sivaraman told Mint in an email. While Esop buybacks help companies reward and …

These 46 tech companies layoff 7,500 employees in first 2 week of 2024
11 months, 3 weeks 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 …

Swiggy to lay off hundreds of employees. CEO says ‘two things happened in 2022’
1 year, 11 months ago

Swiggy to lay off hundreds of employees. CEO says ‘two things happened in 2022’

Live Mint  

Indian food delivery firm Swiggy on Friday said it will lay off 380 employees out of its 6,000 strong work force, citing challenging macroeconomic conditions and slowdown in growth of its food delivery business. Our overhiring is a case of poor judgement, and I should’ve done better here.” The CEO said in 2022, two things happened. While we’d already initiated …

Is Swiggy planning to lay off staff because of the losses?
2 years ago

Is Swiggy planning to lay off staff because of the losses?

India TV News  

Swiggy, an online food delivery platform has reported that the company has been facing losses which are doubled the previous amount witnessed. According to its annual financial statement with the Registrar of Companies, during the last quarter of FY22, Swiggy turned "decacorn" after raising a $700 million round led by Invesco. Furthermore, Swiggy's revenue grew 2.2 times to Rs 5,705 …

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