The layoffs in India are dominated by edtech platforms like Unacademy (1,150 employees), BYJU’S (550 at Toppr and Whitehat Jr) and Vedantu (624), along with ride-hailing platform Ola (nearly 500), healthcare startup MFine (600) and pre-owned cars platform Cars24 (600), among others.
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New Delhi: Amid recession fears, tech giants like Microsoft, Facebook (Meta) and several others have laid off more than 32,000 tech workers in mass job cuts in the US till July, data compiled by Crunchbase showed. Besides, the layoff includes ride-sharing platform Uber, Netflix and several cryptocurrency exchanges and lending platforms. Robinhood, Glossier and Better are just a few of the tech companies that have trimmed their headcount this year.
Latest data compiled by layoffs.fyi, a website that tracks layoffs in startups revealed that more than 43,000 workers from 342 tech companies/startups have been laid off across the world and over 13 per cent are from India since April 2022.
The layoffs in India are dominated by edtech platforms like Unacademy (1,150 employees), BYJU’S (550 at Toppr and Whitehat Jr) and Vedantu (624), along with ride-hailing platform Ola (nearly 500), healthcare startup MFine (600) and pre-owned cars platform Cars24 (600), among others.The other Indian startups and unicorns that have laid off employees are Meesho, MPL, Trell and Blinkit (now owned by Zomato), among others.
Take a look at list of companies that had laid off employees of late:-
Ola: Ola is planning to increase the hiring process for its electric mobility business and on the other hand, the urban mobility firm is in the process of laying off about 1,000 employees, according to an ET report. As per the report, the restructuring exercise is also expected to be on for a few weeks more and the firm is planning to focus more on its electric mobility business.
Byju’s: Edtech unicorn start-up Byju’s has sacked over 600 employees, including both permanent and contractual.
Cars24: In May, used car marketplace Cars24 had sacked more than 600 employees. This was over 6% of its total headcount of about 9,000 people.
Vedantu: Vedantu had laid off 424 employees — close to 7 per cent of its workforce of 5,900 — as the firm expects a scarcity in funding.
Microsoft: Satya Nadella’s Microsoft became the first tech giant to lay off employees as part of a ‘realignment’. The layoffs at Microsoft reportedly affect nearly 1 per cent of its 1,80,000-strong workforce across its offices and product divisions. Microsoft has also slowed hiring in the Windows, Teams and Office groups.
Facebook: Meta (formerly Facebook) has warned employees of “serious times” and has issued a hiring freeze for certain roles. A report in Busines standard claimed that CEO Mark Zuckerberg told employees that he’s anticipating one of the worst downturns in recent history. For the unversed, the company had more than 77,800 employees at the end of March.
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Twitter: Twitter has cut 30% of its recruiting team while Elon Musk-run Tesla has been laying off hundreds of employees. Other tech companies that have slowed hiring include Nvidia, Snap, Uber, Spotify, Intel and Salesforce, among others. Cloud major Oracle recently considered laying off thousands of workers to save up to $1 billion in cost-cutting measures, the media reported.
