The startup squad has turned into a firing squad as over 10,000 employees have been laid off by the 'up-and-comers' of India Inc. As per a report by Inc42 more than 10,000 Indian employees working across 27 startups were let go just this year in 2022.
Also read/watch| You could have an e-passport by the end of this year, Thanks to TCS
As the funding winter hits this summer, unicorns such as Vedantu, Cars24, Ola, Meesho, MPL and Unacademy have all laid off employees as they 'restructure'.
In May alone, layoffs by 9 startups were reported impacting 3,379 employees. So far, June has seen layoffs by 10 startups.