A total of 489 tech companies have laid off 1,38,512 employees in 2023 alone
Though major tech companies, both startups and big tech firms, across the world have been laying off people citing economic uncertainties going ahead, some startups are planning to expand their teams in India to push their growth. Here’re details about layoffs in 2023 and startups that are intending to hire employees.
According to the latest data from Layoffs.fyi, a total of 489 tech companies have laid off 1,38,512 employees in 2023 alone. The companies also include Big Tech like Meta, Twitter, Amazon, Disney, Microsoft and Google.
In the year 2022, a total of 1,61,411 employees were laid off by 1,051 tech companies.
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Facebook-parent Meta Platforms on Tuesday, March 15, also said it would cut 10,000 jobs, just four months after it let go 11,000 employees. With this, it has become the first Big Tech company to announce a second round of mass layoffs.
Hiring Plans by Startups
Physics Wallah: Unicorn edtech firm Physics Wallah has also said it is planning to hire 2,500 employees in the ongoing quarter across different roles. Currently, the company has built a team of 6,500 employees, including over 2,000 teachers and educational experts.
“The hiring spree is aligned with the brand’s ambitious growth goals as it continues to provide top-of-the-line learning opportunities to students. The new positions opened up at PW cut across different roles and responsibilities,” PW has said in a statement. Physics Wallah said it is hiring faculty members as well as professionals for allied roles like business analysts, data analysts, counsellors, operations managers, batch managers, teachers, and many more.
Liferay: US-based cloud-powered digital user experience platform (DXP) provider Liferay has said it intends to double its headcount in India and onboard more than 200 engineers and management candidates in the next 24 months. As a part of its commitment, Liferay has also opened a new office in Bengaluru, which will pave the way for its rapid expansion.
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“With a strong foothold in 19 countries across EMEA, APAC, and the Americas, the global technology company aims to attract the best talent in India and expand its local presence. In the next two years, Liferay’s Bengaluru office will hire experienced and entry-level engineering and management graduates for various roles focusing on cloud technologies, product development, operations, marketing, and sales,” Liferay said in a statement.
TSAW Drones: Drone tech startup TSAW Drones has announced aggressive plans to increase its talent pool by hiring over 350 new employees by the end of the calendar year 2023. The current full-time workforce strength of TSAW Drones is around 50 and with the scheduled recruitment dive, the startup is on track to cross the mark of more than 400 employees.
In the previous quarter, TSAW Drones had successfully roped in 30+ employees. The new hiring announcement comes in the wake of the company’s explosive growth plans to advance its product portfolio as well as mark its footprints in 6 new geographies.
Sudhanshu Mishra, head of people for TSAW Drones, said, “Startups and companies in India have been hit hard by the funding winter and thousands of employees have been laid off recently. However, the addressable market for what we do at TSAW Drones is unprecedented, particularly in these times of economic turmoil and transition. The new staff of professionals will not only position us to dominate the industry but will also have a deep impact on the advancement of this new sector. Additionally, we intend to maintain a positive work environment for our freshers as it is as essential to our growth and success as modeling innovative drone technology solutions for our clients.”
CLXNS: Digital-first debt resolution company CLXNS has announced hiring over 700 employees. The company intends to hire across verticals ranging from product, engineering and design to marketing and data analytics. It is keen to onboard seasoned professionals for key leadership roles along with mid-level talent possessing expertise in technology. With the assistance of the newly hired employees and the company’s clear focus on investing heavily in its tech capabilities, CLXNS’ futuristic goal is to create scalable, digital-first debt resolution tools with high-degree compliance and governance.
CLXNS’ Manavjeet Singh said, “The current market scenario is unstable but we strongly feel that there is no right or wrong time for hiring talent. We believe India’s credit growth story has just started and is guaranteed to see a massive boom. And therefore we foresee an enormous growth in ethical debt resolution opportunities.”
