According to the latest data from layoff.fyi, over 36,400 people lost their jobs in India over the last couple of years.
Nine businesses, including Lido Learning, SuperLearn, and GoNuts, have completely let go of all of their employees. The website that analyses layoffs in the tech sector reports that five businesses let go between 70 and 75 percent of their personnel. These businesses include MFine, PhableCare, and GoMechanic.
With 4,000 employees being let go, Byju's is the company experiencing the most layoffs. 1,800 people were let go by WhiteHat Jr. in January 2021, followed by 300 in June 2022. 1,800 people were let off by Bytedance in January 2021. Paisabazaar let off 1,500 employees in June 2020, or 50% of the staff.
Since May 2020, Swiggy has let 2,880 staff go. In April 2020, 800 people were let go; in July 2020, 350; in December 2022, 250; and in January 2023, 380. In contrast, Zomato has only terminated 620 employees since May 2020. It fired 100 workers in November 2022 and 520 workers in May 2020.
Since May 2020, Ola has let go of four staff. It fired 1,400 employees in May 2020 and another 1,000 in July 2022. 200 employees were given the option to resign in September 2022, and 200 more were fired in January 2023.
1,500 people have already been let go by Unacademy, all of whom were let go in 2022. A total of 1,000 people were laid off in April, 150 in June, and 350 in November.
503 tech companies have fired 148,165 workers worldwide so far this year. The year 2022 was difficult for startups and the technology sector. In 2022, at least 1.6 lakh workers lost their jobs, and 2023 has already started out in a similar vein.
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