{"id":1241985,"date":"2023-01-30T07:34:20","date_gmt":"2023-01-30T02:04:20","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1241985"},"modified":"2023-01-30T07:34:57","modified_gmt":"2023-01-30T02:04:57","slug":"14-indian-startups-fire-2100-employees-in-21-days-will-2023-witness-more-terminations-among-startup-employees","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/14-indian-startups-fire-2100-employees-in-21-days-will-2023-witness-more-terminations-among-startup-employees\/","title":{"rendered":"14 Indian Startups Fire 2100 Employees In 21 Days: Will 2023 Witness More Terminations Among Startup Employees?"},"content":{"rendered":"\n<p>It seems that the rough patch of 2022 for startup employees is further spilling into 2023 considering the number of companies, including the well-funded ones, handing pink slips as funding dries up.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/01\/Quikr-Commonfloor-Employee-Firing-1280x720-1-1024x576.jpeg\" alt=\"14 Indian Startups Fire 2100 Employees In 21 Days: Will 2023 Witness More Terminations Among Startup Employees?\" class=\"wp-image-1242126\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/01\/Quikr-Commonfloor-Employee-Firing-1280x720-1-1024x576.jpeg 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/01\/Quikr-Commonfloor-Employee-Firing-1280x720-1-300x169.jpeg 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/01\/Quikr-Commonfloor-Employee-Firing-1280x720-1-768x432.jpeg 768w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/01\/Quikr-Commonfloor-Employee-Firing-1280x720-1.jpeg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Huge Layoffs With The Start Of 2023<\/strong><\/p>\n\n\n\n<p>A latest media <a href=\"https:\/\/www.moneycontrol.com\/news\/business\/startup\/14-indian-startups-2100-employees-sacked-in-first-3-weeks-2023-9925201.html\/amp?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts\">report<\/a> suggests that almost 14 startups in India have laid off over 2,100 employees in the first three weeks of 2023.<\/p>\n\n\n\n<p>It won&#8217;t be an exaggeration to say that the start of 2023 is not going very smooth for Indian startups as the number of layoffs in this period has crossed last year\u2019s three-week average of around 1,060.<\/p>\n\n\n\n<p>It appears that startup sackings are continuing as more companies take up the layoff route in an attempt to stay afloat amid a stubborn funding winter.<br><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/fd0c5NS3WfI004B1M-8cS4PPEeYvfZg_E6xLGmFWiUbSCzxM4ziCI4oX_Chm1T_9-ZYrgLc3eMHSc-J0bldvN0S0GY7lC_bAjnkH8oyjvs4LZUO29QxcyOYEFYvpU1WokTeYoLEtXLQ2XZZ4fVcvNbQAH4zuidGsy4pXQvPwrhMiMJunLgGnZFfLxry04Q\" width=\"624\" height=\"535\"><\/p>\n\n\n\n<p>Image Source &#8211; <a href=\"https:\/\/www.moneycontrol.com\/news\/business\/startup\/14-indian-startups-2100-employees-sacked-in-first-3-weeks-2023-9925201.html\/amp?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts\">www.moneycontrol.com<\/a><\/p>\n\n\n\n<p><strong>Layoffs In 2022<\/strong><\/p>\n\n\n\n<p>Among others, the startups such as Medibuddy, Swiggy, and Sharechat have joined the list of companies that have together laid off over 20,500 employees since 2022.<\/p>\n\n\n\n<p>There were mass layoffs since the beginning of 2022 which was further followed by a year of aggressive hiring.<\/p>\n\n\n\n<p>The high employee costs as tech salaries skyrocketed in 2021.<\/p>\n\n\n\n<p>Basically, the new-age tech startups led the talent war to support their unprecedented growth with funds pouring into the Indian startup ecosystem.<\/p>\n\n\n\n<p>Over 60 startups have laid off employees in large numbers Since the beginning of 2022.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/nSw1dDZO1d8djHK6lnX6tdtaK-1bZHKmeyRyhCuzJwSxOuMJ0IguPm2lK9ke0u8rpU8SNtXqG67lBtqNe9t7LVuBrz1XdphdB8YBWmGWMefiLwtqgeDQyIE-4uJ8Oq-_3uZgIe4edTcV_uWeudMfprHKBCVkuiKSqBbWN1h__W5NJfmSl5KDpawnfLY_3w\" alt=\"\"\/><\/figure>\n\n\n\n<p>Image Source &#8211; <a href=\"https:\/\/www.moneycontrol.com\/news\/business\/startup\/14-indian-startups-2100-employees-sacked-in-first-3-weeks-2023-9925201.html\/amp?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts\">www.moneycontrol.com<\/a><\/p>\n\n\n\n<p>It all started citing funding crunch and restructuring while some shifted the blame onto employees\u2019 performance, calling the layoffs standard.<\/p>\n\n\n\n<p>Not only that, the startups that went on a hiring frenzy last year to support their growth at speed, ended up with subpar talent in excess at a time when the ecosystem turned away from spending to grow to profitability at all costs.<\/p>\n\n\n\n<p>During such times of crisis, some such startups had to make tough decisions that had a bigger impact than others.&nbsp;<\/p>\n\n\n\n<p>Around six companies on the list let go of more than 1,000 employees since the beginning of 2022.<\/p>\n\n\n\n<p>But, the worst hit is taken by the four of these companies including&nbsp; Lido learning, Byju\u2019s, Unacademy, and Vedantu belonging to the edtech sector or the poster boy of last year\u2019s startup party.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It seems that the rough patch of 2022 for startup employees is further spilling into 2023 considering the number of companies, including the well-funded ones, handing pink slips as funding dries up. Huge Layoffs With The Start Of 2023 A latest media report suggests that almost 14 startups in India have laid off over 2,100 [&hellip;]<\/p>\n","protected":false},"author":27,"featured_media":1242126,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[131,712],"class_list":["post-1241985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-layoffs","tag-startup-firing"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>14 Indian Startups Fire 2100 Employees In 21 Days: Will 2023 Witness More Terminations Among Startup Employees? - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/14-indian-startups-fire-2100-employees-in-21-days-will-2023-witness-more-terminations-among-startup-employees\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"14 Indian Startups Fire 2100 Employees In 21 Days: Will 2023 Witness More Terminations Among Startup Employees? - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"It seems that the rough patch of 2022 for startup employees is further spilling into 2023 considering the number of companies, including the well-funded ones, handing pink slips as funding dries up. Huge Layoffs With The Start Of 2023 A latest media report suggests that almost 14 startups in India have laid off over 2,100 [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/trak.in\/stories\/14-indian-startups-fire-2100-employees-in-21-days-will-2023-witness-more-terminations-among-startup-employees\/\" \/>\n<meta property=\"og:site_name\" content=\"Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-30T02:04:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-30T02:04:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/01\/Quikr-Commonfloor-Employee-Firing-1280x720-1.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sheetal Bhalerao\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sheetal Bhalerao\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/trak.in\/stories\/14-indian-startups-fire-2100-employees-in-21-days-will-2023-witness-more-terminations-among-startup-employees\/\",\"url\":\"https:\/\/trak.in\/stories\/14-indian-startups-fire-2100-employees-in-21-days-will-2023-witness-more-terminations-among-startup-employees\/\",\"name\":\"14 Indian Startups Fire 2100 Employees In 21 Days: Will 2023 Witness More Terminations Among Startup Employees? 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