Highlights

Over 27 startups have fired employees in 2022
Unicorns layoff employees as cash flow worries emerge
Funding runs dry for startups as global liquidity tightens

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Over 10,000 people fired as startup sizzle starts to fade

Name: Over 10,000 people fired as startup sizzle starts to fade
Uploaded: 2022-06-21T07:53:06.000+05:30
Duration: T00M39S
Channel: EJ Biz Desk
Description: 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 g...

Gurugram-headquartered social commerce startup CityMall latest addition to the firing squad

Updated: Sep 02, 2022 10:53

EJ Biz Desk

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Over 10,000 people fired as startup sizzle starts to fade

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.

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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.