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According to Consumer Price Index (CPI) data released by the National Statistics Office (NSO), the inflation in the food basked reduced to 9.04 per cent in November.

Retail inflation eases to 5.48 per cent in November: Govt

According to Consumer Price Index (CPI) data released by the National Statistics Office (NSO), the inflation in the food basked reduced to 9.04 per cent in November.

Retail inflation slowed to 5.48 per cent in November compared to 6.21 pc in October, mainly due to easing food prices, especially vegetables, according to government data released on Thursday.
According to Consumer Price Index (CPI) data released by the National Statistics Office (NSO), the inflation in the food basked reduced to 9.04 per cent in November. It was 10.87 per cent in October and 8.70 per cent in November 2023.
&ldquo;During the month of November 2024, a significant decline in inflation is observed in vegetables, pulses and products, sugar and confectionary, fruits, eggs, milk and products, spices, transport and communication and personal care and effects subgroups,&rdquo; the NSO said. The CPI-based headline inflation increased from an average of 3.6 per cent during July-August to 5.5 per cent in September and further to 6.2 per cent in October 2024, the highest in more than a year since September 2023.
Last week, the Reserve Bank raised the inflation projection for the current fiscal to 4.8 per cent from 4.5 per cent. It also said that the lingering food price pressures are likely to keep headline inflation elevated in the December quarter.
Consumer price index (CPI)-based headline inflation increased from an average of 3.6 per cent during July-August to 5.5 per cent in September and further to 6.2 per cent in October 2024.

In the face of escalating wheat prices, India is actively exploring the import of Russian wheat through private channels and bilateral deals. The objective is to stabilize supply and prices in preparation for upcoming elections

India engages in talks with Russia for discounted wheat imports: Report

In the face of escalating wheat prices, India is actively exploring the import of Russian wheat through private channels and bilateral deals. The objective is to stabilize supply and prices in preparation for upcoming elections

In a bid to tackle surging wheat prices, the Indian government is mulling over the prospect of importing wheat from Russia at a reduced cost. This move aims to augment the domestic wheat supply.
India is heading into assembly elections across several states this year, followed by general elections next year, prompting the government's desire to stabilize grain prices prior to these crucial political events. The cost of wheat soared to its peak in 15 months this July.
Insiders familiar with the matter, as per a Reuters report, have indicated that the central government is actively exploring the avenue of wheat imports from Russia, utilizing private trade channels and bilateral agreements. The ultimate decision will be taken after careful deliberation.
Historically, India has not resorted to diplomatic wheat import deals for several years. An exception was in 2017 when a substantial 530,000 metric tons of wheat were imported.&nbsp;
Recent reports revealed that last month, a senior official from the Federal Food Ministry, Sanjeev Chopra, asserted that no definitive plans existed for importing wheat from Russia.
India's wheat requirement hovers around 3 to 4 million metric tons. However, there is potential to import between 8 to 9 million metric tons from Russia.
A major detail from the report states that Russia has conveyed its willingness to provide India with discounted wheat. Importantly, there are no restrictions on exporting food items from Russia
This prospective deal not only holds the promise of stable prices but could also present a strategic bilateral trade opportunity between India and Russia, potentially alleviating the challenges posed by recent price fluctuations.
&nbsp;

In a statement, the Fed said recent banking sector developments "are likely to result in tighter credit conditions for households and businesses and to weigh on economic activity, hiring and inflation"

US Fed lifts key interest rate, voices banking sector concerns

In a statement, the Fed said recent banking sector developments "are likely to result in tighter credit conditions for households and businesses and to weigh on economic activity, hiring and inflation"

The US Federal Reserve raised its benchmark lending rate on Wednesday, as it sought to strike a balance between curbing high inflation and averting further upheaval in the commercial banking sector.
The quarter-point increase, which was in line with expectations, lifted their interest rate target to between 4.75 and 5 percent at the end of a two-day policy meeting, the Fed said in a statement.
The policy-setting Federal Open Market Committee (FOMC) added that "some additional policy firming may be appropriate" to get to a stance that is sufficiently restrictive to bring inflation down.
The latest increase was the same size as the central bank's previous rate decision in February, and marks its ninth straight rate hike.
The Fed also updated its economic projections on Wednesday, slightly lowering its 2023 GDP growth projections 2023 to 0.4 percent from 0.5 percent in December.

In a move to tame inflation, Indian government could consider reducing taxes on some items such as maize and fue: report 

India may consider fuel, maize tax cuts to cool inflation: report

In a move to tame inflation, Indian government could consider reducing taxes on some items such as maize and fuel: report&nbsp;

In a move to help rein in climbing retail inflation, the Indian government could consider reducing taxes on some items such as maize and fuel, according to Reuters.&nbsp;
Quoting sources, the report further said, a decision would be taken only after the release of February inflation data. India&rsquo;s retail inflation rate rose to 6.52% in January from 5.72% in December, which is well above the upper end of RBI's comfort zone of 6%.&nbsp; &ldquo;Food inflation is likely to stay high, prices of milk, maize and soy oil are adding to inflation worries in the near term,&rdquo; a senior source familiar with the central bank&rsquo;s and government&rsquo;s thinking on the matter was also quoted by Reuters.&nbsp; India imports more than two-thirds of its oil requirements. A cut in taxes by the central government could push pump operators to pass on the benefits to retail consumers and help bring down inflation.

US consumer inflation cooled slightly in January but the figure remains markedly above policymakers' target, boosted by rent and energy costs
 
 

US inflation eases but how policymakers' battle not over

US consumer inflation cooled slightly in January but the figure remains markedly above policymakers' target, boosted by rent and energy costs
&nbsp;
&nbsp;

Rising rent and a gasoline price rebound helped keep US consumer prices elevated in January, according to data released on Tuesday, signaling that policymakers' battle against inflation is not over.
US Inflation data&nbsp;
The US central bank has hiked interest rates rapidly in the past year to raise borrowing costs and cool demand in the world's biggest economy, as inflation skyrocketed.
But even as the consumer price index (CPI), an important inflation gauge, eases from decades-high levels, the numbers point to some stickier areas.
With the effects of policy rippling through the economy, the CPI rose 6.4 percent in January from a year ago, according to Labor Department data. This was a touch below December's figure and the smallest annual increase since October 2021.
But it remains significantly above policymakers' two percent target.

Retail inflation breached the RBI's comfort zone and rose to a three-month high of 6.52 per cent in January, mainly on account of a spike in food prices, as per government data released on Monday

January retail inflation spikes to a 3-month high of 6.52%

Retail inflation breached the RBI's comfort zone and rose to a three-month high of 6.52 per cent in January, mainly on account of a spike in food prices, as per government data released on Monday. 

Retail inflation breached the RBI's comfort zone and rose to a three-month high of 6.52 per cent in January, mainly on account of a spike in food prices, as per government data released on Monday.&nbsp;

Retail inflation breached the RBI's comfort zone and rose to a three-month high of 6.52 per cent in January, mainly on account of a spike in food prices, as per government data released on Monday.
The inflation rate based on the Consumer Price Index (CPI) stood at 5.72 per cent December and 6.01 per cent in January 2022.
Inflation rate for the food basket was at 5.94 per cent in January, up from 4.19 per cent in December.
The previous high was 6.77 per cent in October.
The Reserve Bank has been mandated by the central government to ensure the retail inflation remains at 4 per cent with a margin of 2 per cent on either side.

Many economists expect the U.S. to enter a recession in the coming months

Fed officials expect higher rates for some more time  

Another rate hike on Feb 1?

Many economists expect the U.S. to enter a recession in the coming months

As the battle against inflation remain in place, US central bankers do not expect it will be "appropriate" to start cutting interest rates this year.&nbsp;
While the Fed had slowed its pace of rate increases in December after several steep rate hikes, the minutes of the latest Federal Reserve policy meeting report shows officials were also concerned about any "misperception" of their moves.
The Fed has waged an all-out campaign to cool the world's biggest economy as inflation surged to a 40-year high last year, raising the benchmark lending rate seven times to ease demand.
This brought the rate to a range between 4.25 and 4.50 percent after the Fed's December meeting, the highest level since 2007.

As millions across the world return to office after a two-year-long pandemic, they are being greeted by high prices on almost every item. These costs are being passed on to the typical business lunch traveller, experts are calling this phenomenon “Lunchflation”. But what is it?
Lunchflation, a recently created phrase, describes the specific inflation of lunchtime meal prices, such as sandwiches and wraps. This new inflation has received a lot of attention recently as more individuals start going back to work following the outbreak. 
Similar trends are being witnessed across restaurants and other companies in the US that have raised menu prices due to global inflation. 
This is happening not just in America but also in countries like South Korea, where the average meal price index increased 6.6% in April 2021. These consist of eateries that provide services including self-service via QR codes and online ordering, as well as local delivery at a set price through third-party partners.
In South Korea's capital, Seoul dubbed "lunch-flation", the price of beloved dishes such as "galbitang" (beef stew with rice) jumped 12.2% and "nengmyun" (cold noodles) rose 8.1%. 

Lunchflation hits office workers but what is it?

The war in Ukraine has impacted supplies of grains from there and Russia, and caused energy and fertiliser prices to soar.&nbsp;

As millions across the world return to office after a two-year-long pandemic, they are being greeted by high prices on almost every item. These costs are being passed on to the typical business lunch traveller, experts are calling this phenomenon &ldquo;Lunchflation&rdquo;. But what is it?
Lunchflation, a recently created phrase, describes the specific inflation of lunchtime meal prices, such as sandwiches and wraps. This new inflation has received a lot of attention recently as more individuals start going back to work following the outbreak.&nbsp;
Starbucks raised prices in the US earlier this year and in October 2021 &ndash; and prices could continue to rise. Salad chain Sweetgreen also raised its menu prices by 10 per cent since the start of 2021.&nbsp;
Similar trends are being witnessed across restaurants and other companies in the US that have raised menu prices due to global inflation.&nbsp;
This is happening not just in America but also in countries like South Korea, where the average meal price index increased 6.6% in April 2021. These consist of eateries that provide services including self-service via QR codes and online ordering, as well as local delivery at a set price through third-party partners.
In South Korea's capital, Seoul dubbed "lunch-flation", the price of beloved dishes such as "galbitang" (beef stew with rice) jumped 12.2% and "nengmyun" (cold noodles) rose 8.1%.&nbsp;

The global economy is at a difficult crossroads, buffeted by multiple shocks including soaring inflation, rising interest rates and a growing threat of broad debt crisis 

IMF warns global recession risks & darker outlook; what these warning means

IMF warns global recession risks &amp; darker outlook, but what these warning means?

The global economy is at a difficult crossroads, buffeted by multiple shocks including soaring inflation, rising interest rates and a growing threat of broad debt crisis.
Economy is moving from a world of relative predictability to one of greater uncertainty, International Monetary Fund chief Kristalina Georgieva has said, warning that countries accounting for about one-third of the world economy will experience at least two consecutive quarters of contraction this or next year.
In a speech ahead of the fund's annual meetings next week, the IMF's managing director said to take concerted action to avoid a "dangerous 'new normal,'" as the risks of a worldwide recession are driven ever higher by repeated economic shocks.
This highlights downturns in China and Russia, alongside higher-than-expected inflation, especially in the United States and Europe.
It is partly blamed on Russia's war in Ukraine, which has increased energy prices and food prices.
Whether an economic downtown has officially been declared a recession or not, the impacts of an impending recession can affect your daily life.
Some people may lose their jobs, or find it harder to get promotions, or pay rises big enough to allow them to cope with increases in prices.
Graduates and school leavers could find a first job harder to get.
However, the pain of a recession is typically not felt equally across society, and inequality can increase.
Benefit recipients and those with fixed incomes are particularly likely to struggle.&nbsp;

Turkish inflation jumped to a new 24-year high exceeding 83 percent in September, as President Recep Tayyip Erdogan presses for more interest rate cuts despite surging prices.Turkey's monetary policymakers are bucking the global trend of central banks raising interest rates to combat inflation, as high borrowing rates cool down the economy and prices.But Erdogan, who has focused on growth ahead of a general election in June, has repeatedly railed against higher rates, calling them his "biggest enemy".The transport, food and housing sectors have seen the biggest rise in prices.The transport sector saw the sharpest increases in annual prices at 117.66%, followed by food and non-alcoholic drinks at 93%. The lira, meanwhile, hit a new record low of 18.56 against the US dollar.Inflation began to rise worldwide after economies emerged from Covid lockdowns but it worsened this year as Russia's invasion of Ukraine sent energy and food prices through the roof.

Turkey's inflation rate hits fresh 24-year high

With transport sector saw the sharpest increases in annual prices at 117.66%, followed by food and non-alcoholic drinks at 93% - this country's currency hit a new record low against US dollar

This country's inflation surges to 83%

Prices are rising quickly around the world, due to factors including Covid-related supply shortages and the Ukraine war

Turkish inflation jumped to a new 24-year high exceeding 83 percent in September, as President Recep Tayyip Erdogan presses for more interest rate cuts despite surging prices. Turkey's monetary policymakers are bucking the global trend of central banks raising interest rates to combat inflation, as high borrowing rates cool down the economy and prices. But Erdogan, who has focused on growth ahead of a general election in June, has repeatedly railed against higher rates, calling them his "biggest enemy". The transport, food and housing sectors have seen the biggest rise in prices. The transport sector saw the sharpest increases in annual prices at 117.66%, followed by food and non-alcoholic drinks at 93%. The lira, meanwhile, hit a new record low of 18.56 against the US dollar. <a href="https://www.editorji.com/business-news/rbi-hikes-repo-rate-to-rein-in-inflation-lowers-gdp-forecast-1664518544931">Inflation Rate</a>&nbsp; began to rise worldwide after economies emerged from <a href="https://www.editorji.com/world-news/under-covid-19-lockdown-xinjiang-residents-complain-of-hunger-1663224922145">Covid lockdowns</a> but it worsened this year as <a href="https://www.editorji.com/world-news/us-hits-russia-with-sanctions-for-absorbing-occupied-ukrainian-regions-1664557903986">Russia</a>'s invasion of <a href="https://www.editorji.com/world-news/ukraine-war-putin-signs-treaties-annexing-ukrainian-regions-1664548707359">Ukraine</a> sent energy and food prices through the roof.

Rupee hits new record low as dollar hits 20-year high

Rupee hits new record low as dollar climbs 20-year high

Rupee falls 51 paisa to an all-time low of 80.47 against the US dollar as the U.S. Federal Reserve hinted at more aggressive rate hikes to tame inflation

Global oil benchmark Brent crude futures rose 0.49 per cent to USD 90.27 per barrel

Rupee falls 51 paisa to an all-time low of 80.47 against the US dollar as the U.S. Federal Reserve hinted at more aggressive rate hikes to tame inflation.
Forex traders said the strength of the American currency in the overseas market, a muted trend in domestic equities, risk-off moods and firm crude oil prices weighed on the local unit.
According to Bloomberg, while the Fed hiked the rates by 75 basis points, more importantly, it hinted that more hikes were coming and that rates would stay elevated until 2024. As a result, Asian currencies opened weaker, with the Chinese yuan slipping below 7.10 to the dollar.
Meanwhile, the US dollar climbed up sharply to a new 20-year peak on the day as the rate hike spooked investors and advanced 0.88 per cent to 111.61.
Sentiment took an additional hit from Russia's escalation of its war with Ukraine and tensions between Beijing and Taiwan.

Inflation reality is getting real day by day as Nestle, the company behind some of your favourite snack brands has put their prices up in the face of unprecedented cost increases. It is now also warning that the price could rise even higher.
The Swiss multinational said it put up prices by 6.5 percent in the first six months of this year. It comes after fast food giants McDonald's and Coca-Cola announced price rises earlier this week.
In UK, the average price for a four-finger KitKat has rocketed by 15% from 60p to 70p since January.
Earlier this year, Nestle increased prices by more than 5% for the first quarter and warned that more rises could hit customers as it sought to pass on the impact of rising costs.
Nestlé owns a whole host of brands including KitKat, Maggi, Cereals including Shreddies, Cheerios, Shredded Wheat. 

Nestle joins McDonald's in hiking costs

Your Kitkat to get expensive? Nestle joins McDonald's in hiking costs

No break from inflation for KitKat

Inflation&nbsp;measures how much the price of goods has changed over time

The price of chocolate also will leave a bitter after taste of expense. Nestle, producer of KitKat has raised prices by 6.5% in the first six months of this year and this may not be the end of it .&nbsp;
The Swiss multinational's price rise comes after fast food giants McDonald's and Coca-Cola announced price rises earlier this week.
In UK, the average price for a four-finger KitKat has rocketed by 15% from 60p to 70p since January.
Earlier this year, Nestle increased prices by more than 5% for the first quarter and warned that more rises could hit customers as it sought to pass on the impact of rising costs.
Nestl&eacute; owns a whole host of brands including KitKat, Maggi, Cereals including Cheerios.&nbsp;

European Central Bank (ECB) is set to hold ad hoc Governing Council meeting on Wednesday at 0900 GMT to discuss the recent sell-off in government bond markets, sparking speculation it could announce measures to tackle surging borrowing costs in weaker eurozone economies. 
ECB spokesperson said: "The Governing Council will have an ad-hoc meeting on Wednesday to discuss current market conditions.”
This unscheduled meeting comes ahead of the Federal Reserve’s monetary policy decision on Wednesday, when the US central bank is expected to raise rates by 0.75 percentage points.
The last time the ECB held an unscheduled meeting during market stress it rolled out the Pandemic Emergency Purchase Programme, a 1.7 trillion euro ($1.78 trillion) bond buying scheme that proved to be its main tool during the COVID-19 pandemic.

European Central Bank calls emergency meeting to discuss market turmoil

ECB calls emergency meeting to discuss market turmoil

The unscheduled meeting comes&nbsp;ahead of the&nbsp;Federal Reserve&rsquo;s monetary policy decision

European Central Bank (ECB) is set to hold ad hoc Governing Council meeting on Wednesday at 0900 GMT to discuss the recent sell-off in government bond markets, sparking speculation it could announce measures to tackle surging borrowing costs in weaker eurozone economies.&nbsp;
ECB spokesperson said: "The Governing Council will have an ad-hoc meeting on Wednesday to discuss current market conditions.&rdquo;
This unscheduled meeting comes&nbsp;ahead of the&nbsp;Federal Reserve&rsquo;s monetary policy decision&nbsp;on Wednesday, when the US central bank is expected to raise rates by 0.75 percentage points.
The last time the ECB held an unscheduled meeting during market stress it rolled out the Pandemic Emergency Purchase Programme, a 1.7 trillion euro ($1.78 trillion) bond buying scheme that proved to be its main tool during the COVID-19 pandemic.

As inflation continues to haunt the common man, the RBI is warning it is going to be painful for a long time. The central bank raised their inflation forecast for the year sharply and now expects the full-year CPI to average above its tolerance level. Here are the projections-:FY 23 CPI projected at 6.7% vs 5.7% earlierQ1 CPI seen 7.5% at vs 6.3% earlierQ2 CPI seen 7.4 % at vs 5.8% earlierQ3 CPI seen 6.2% at vs 5.4% earlierQ4 CPI seen 5.8% at vs 5.1% earlier

RBI raises inflation forecast sharply, price pain to remain

As inflation continues to haunt the common man, the RBI is warning it is going to be painful for a long time.

The global economy continues to grapple with multi-decadal high inflation and slowing growth

As inflation continues to haunt the common man, the RBI is warning it is going to be painful for a long time. The central bank raised their inflation forecast for the year sharply and now expects the full-year CPI&nbsp;to average above its tolerance level. Here are the projections-:
Also read/watch| <a title="RBI Monetary Policy: Repo rate hike again, shocks with 50 bps hike" href="https://www.editorji.com/business-news/markets/rbi-monetary-policy-repo-rate-hike-again-shocks-with-50-bps-hike-1654662962773">RBI Monetary Policy: Repo rate hike again, shocks with 50 bps hike</a> FY 23 CPI projected at 6.7% vs 5.7% earlier Q1 CPI seen 7.5% at vs 6.3% earlier Q2 CPI seen 7.4 % at vs 5.8% earlier Q3 CPI seen 6.2% at vs 5.4% earlier Q4 CPI seen 5.8% at vs 5.1% earlier 
RBI Governor Shaktikanta Das said the upside risk to inflation persists and the recent spike in tomato prices would fuel food inflation. Also, high global crude oil prices would add to the upside pressure on inflation.
The upward revision in inflation projection comes as domestic retail inflation has remained above RBI's comfort level of 6 per cent for four months in a row, mainly due to the Russia-Ukraine war which has impacted the prices of commodities across the globe. Das said normal south-west monsoon would boost kharif sowing and agri output. However, global geo-political situation remains fluid and commodity market remains on the edge.
A rise in price across all items from fuel to vegetables and cooking oil pushed WPI or Wholesale Price Inflation to a record high of 15.08 per cent in April and retail inflation to a near eight-year high of 7.79 per cent.
RBI has the mandate to keep inflation at 4 per cent with a bias of 2 per cent on either side. - With inputs from PTI

After oil, lemons and wheat now tomatoes are jeopardising the common man's kitchen budget!While cherry tomato is being sold at 360 per kg in the national capital region, in many cities its prices have reached Rs 100 for regular tomatoes amid shortfall in supply.Apart from tomatoes, prices of wheat, oil, sugar and spices have also gone costlier. 
While the retail prices of atta have shot up to Rs 32.91 per kg from Rs 28.8 per kg, lemon prices have also risen to Rs 350 per kg in Delhi.  
Prices of spices have surged, led by cumin.  Prices of cumin or jeera, the second most widely consumed spice, have shot up to a five-year high, as output has shrunk by a third. 
 
 

Tomatoes hit a centuru! Prices turn consumers red in anger

After oil, lemons and wheat, tomatoes are now jeopardising the common man's kitchen budget!


Tomatoes hit a century! Prices turn consumers red in anger

Amid the shortage of supply, the tomato prices have reached Rs 80 to Rs 100 per Kg

Move aside lemons, tomatoes are taking over the shocking price spotlight as prices soar to Rs 100/kilo in the retail market. Shortage in supply and unpredictable weather conditions have led to a huge price in the prices of this essential vegetable.&nbsp; Wholesale prices of tomatoes in Chennai are in the range of Rs 80 to Rs 95 and are expected to rise only due to heavy rainfall in both Andhra and Karnataka. Meanwhile, the gourmet option i.e. the cherry tomato is being sold at 360 per kilo by various delivery apps.&nbsp;
Also read/watch| <a title="Pakistan faces bankruptcy, funds to cover only 2 months of imports" href="https://www.editorji.com/business-news/economy/pakistan-faces-bankruptcy-funds-to-cover-only-2-months-of-imports-1653549270203">Pakistan faces bankruptcy, funds to cover only 2 months of imports</a> Apart from tomatoes, prices of wheat, oil, sugar and spices have also gone costlier.&nbsp;
While the retail prices of&nbsp;atta&nbsp;have shot up to Rs 32.91 per kg from Rs 28.8 per kg, lemon prices have also&nbsp;risen to Rs 350 per kg in Delhi.&nbsp;&nbsp;
Prices of spices have surged, led by cumin.&nbsp;&nbsp;Prices of cumin or jeera, the second most widely consumed spice, have shot up to a five-year high, as output has shrunk by a third.&nbsp;
&nbsp;
&nbsp;

The unicorn story is changing from hiring to firing. Somehow the startup bubble has burst and it’s the employees caught in the fallout as ever.Lately, well-funded startups are firing thousands of employees. Here's the list of startups that laid-off employees in 2022: 
Meesho, the e-commerce platform has laid off nearly 150 employees, mostly from its grocery division superstore called Farmiso, as it reportedly plans to merge its online grocery vertical with the main app. 
Meesho isn’t alone. US-based digital mortgage lender Better.com badly botched mass layoffs twice. On December 1, CEO and co-founder Vishal Garg laid off 900 employees via a Zoom call, and made headlines for being cold and insensitive. In March, the company laid off 3,000 of its remaining 9,000 employees in the US and India. 
Back to home again, Unacademy- which saw revenues going up around six times in 2021, laid off nearly 600 employees, contractual workers and educators — about 10 per cent of its 6,000-strong workforce across the group.
Furlenco, the furniture rental startup in March laid off nearly 180-200 employees, mostly from the customer support roles and in the same month, another social commerce platform, Trell asked nearly 300 employees to go, which is close to half of its workforce.
In a nightmare for nearly 1,000 employees, homegrown edtech startup Lido Learning which is backed by top entrepreneur Ronnie Screwvala, apparently shut operations in February, forcing its workforce to seek help via social media platforms. 
Edtech unicorn Vedantu has laid off around 200 employees, a mix of both full-time and contracted employees. 
This is not all. Food and grocery delivery platform Swiggy said it will suspend operations of its subscription-based delivery service, Supr Daily, in five cities, as it is yet to demonstrate profitability. 
Uber CEO Dara Khosrowshahi, for instance, said it will slow down hiring and cut down on marketing and incentive spending to address a “seismic shift” in investor sentiment.
As 2020 and 2021 were all about exuberance, record fundraising and a unicorn being minted every other week, then will 2022 be all about markdowns and layoffs?

Startups Shrink: From unicorns to layoffs, the firing squad is here

From a funding boom to mass layoffs, a look at startups that laid off around 5,700 employees 

From a funding boom to mass layoffs, a look at what has led to around 5,700 employees being rendered jobless

The unicorn story is changing from hiring to firing. India's startup&nbsp;ecosystem seems to be shrinking as new market realities have set in. It may have been Better.com's&nbsp;firing debacle on Zoom that went viral but now the story is hitting home with local startups&nbsp;joining the&nbsp;firing squad.&nbsp; Meesho,&nbsp;the e-commerce platform&nbsp;has laid off nearly 150 employees, mostly from its grocery division superstore called Farmiso, as it reportedly plans to merge its online grocery vertical with the main app.&nbsp;
Unacademy- which saw revenues going up around six times in 2021, laid off nearly 600 employees, contractual workers and educators &mdash; about 10 per cent of its 6,000-strong workforce across the group.
Also read/watch|&nbsp;<a title="Mass layoffs at American companies: Here is who is firing" href="https://www.editorji.com/business-news/mass-layoffs-at-american-companies-here-is-who-is-firing-1652340430753">Mass layoffs at American companies: Here is who is firing</a>
Furlenco, the furniture rental startup in March laid off nearly 180-200 employees, mostly from the customer support roles and in the same month, another social commerce platform, Trell asked nearly 300 employees to go, which is close to half of its workforce.
In a nightmare for nearly 1,000 employees, homegrown edtech startup Lido Learning which is backed by top entrepreneur Ronnie Screwvala, apparently shut operations in February, forcing its workforce to seek help via social media platforms.&nbsp;
Edtech unicorn Vedantu has laid off around 200 employees, a mix of both full-time and contracted employees. And many educators faced the same tune as&nbsp;Byju&rsquo;s owned and operated coding platform WhiteHatJR reportedly axed 1,800 of its employees to cut costs involved in selling and supporting international markets.&nbsp;
Also read/watch|&nbsp;<a title="LIC IPO allotment today: Here is how to check if you got shares" href="https://www.editorji.com/business-news/lic-ipo-how-to-check-allotment-status-1652261636630" target="_blank">LIC IPO allotment today: Here is how to check if you got shares</a>
This is not the end. Food and grocery delivery platform Swiggy said it will suspend operations of its subscription-based delivery service, Supr Daily, in five cities, as it is yet to demonstrate profitability and out Swiggy&nbsp;Genie back in the bottle.&nbsp;
As 2020 and 2021 were all about exuberance, record&nbsp;fundraising and unicorns being minted every other week, 2022 has kickstarted on a different road which seems to have of speed bumps along the way.&nbsp;

To address the shift in economic sentiment from the highs of the coronavirus pandemic, global ride-hailing Uber CEO Dara Khosrowshahi has told staff the company will rein in spending across the board to focus on investor returns.Post the company’s January-March quarter earnings, where the company posted a loss of USD 5.9 billion, Khosrowshahi said he met several investors, which has made it clear that the market is experiencing a seismic shift, requiring Uber to react accordingly.The ride-hailing and delivery group will treat hiring as a "privilege" and pull back on the "least efficient" incentive and marketing spend, Khosrowshahi said in an email to employees.Uber isn't the only tech company talking about a hiring squeeze. Meta announced to staff on Wednesday it would scale back hiring as a way to tackle slow revenue growth.

Uber to cut costs, treat hiring as a ‘privilege’: CEO email

Uber's CEO has told employees the company will cut spending on hiring, incentives, and marketing

Here to know the reason|

<div class="group">
Uber shares sank about 2.5% in U.S. pre market trading. The stock is down more than 40% year-to-date.
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To address the shift in economic sentiment due to inflation and from the highs of the coronavirus pandemic, global ride-hailing Uber CEO Dara Khosrowshahi has told staff the company will rein in spending across the board to focus on investor returns.
Post the company&rsquo;s January-March quarter earnings, where the company posted a loss of USD 5.9 billion, Khosrowshahi said he met several investors, which has made it clear that the market is experiencing a seismic shift, requiring Uber to react accordingly.
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The ride-hailing and delivery group will treat hiring as a "privilege" and pull back on the "least efficient" incentive and marketing spend, Khosrowshahi said in an email to employees.
"The average employee at Uber is barely over 30, which means you've spent your career in a long and unprecedented bull run," he said. "This next period will be different, and it will require a different approach."
Khosrowshahi said Uber had made "a ton of progress in terms of profitability" but "the goalposts have changed. Now it's about free cash flow."
Uber isn't the only tech company talking about a hiring squeeze. Last week,&nbsp;Meta also announced to its staff that it would scale back hiring as a way to tackle slow revenue growth.

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