Top Indian Startups with Most Layoffs by the Year 2023!! See Full Report…

February 8, 2023

The world got hit by a massive outbreak during the Covid-19 pandemic and companies have faced massive downfall as an impact. The most influential companies in the market including Amazon, Google, Microsoft, and Meta have faced difficulties in retaining their employees. Amazon, Meta, and Microsoft have plunged out 18,000, 11,000, and 10,000 employees respectively during the layoffs in 2023.

Not only that, more than 150 thousand employees had been fired by the end of the year 2022. As per the stats of layoffs in 2023, almost 20,000 layoffs were registered as of mid-December 2022. The United States lost the most employees during layoffs till 2023.

Layoffs (worldwide) till Jan 2023

According to Statista, the number of employees laid off by tech startups in the retail sector in 2022 exceeds 18.7 thousand. The recession period has broadly impacted the working and it has also affected the revenue of the companies. Now, the companies are looking to cut-off their employees and started layoffs.

Here’s a detailed chart representing the amount of layoffs in different sectors:

Layoffs in different sectors

Also Read: Google Layoffs: Employees in Cloud Space will Suffer the Most!! See Why?

Indian Startups layoffs by 2023

Indian startups have also shivered due to the impact of downfall. The companies have started to layoff their employees. More than 21,500 employees have lost their jobs due to layoffs until now. The companies will hardly be able to retain the lost employees back. The layoff period has developed fear in the minds of employees as MNCs and new startups companies as well are firing their employees.

The decline in Indian startups income has plunged down to $25 billion in 2022, which is 40% less than the income made in 2021. The 67 startups have combinedly laid off 21,532 employees. The most employees were laid off by these sectors:

Edtech
Consumer Service
ecommerce

The top startups that caused most of the layoffs in India include:

Byju’s
Ola
Blinkit
Unacademy
Vedantu
WhiteHat Jr.
Cars24
Mfine
Oyo Hotels & Homes
Udaan

Source: ET

Byjus

Byju’s has laid off more than 1000 employees recently. The company has removed 2500 employees from its workspace until now. Reports have revealed that people at major positions with a package of more than Rs 1 crore also lost their jobs during layoff.

Ola

Ola has laid off 2300 employees recently following the layoff period. The company also recently abandoned the salaries of about 200 engineers in its Ola electric vehicle department.

Blinkit

Blinkit is an ecommerce company founded in December 2013. Company offers a mobile application for selling groceries and other essentials online. Blinkit has recently laid off 1,600 employees from its workspace.

Unacademy

Unacademy is a learning platform that flourished as an online learning platform. The company has recently removed 1500 employees from its workspace. The company even removed more than 1000 employees that joined the company on contractual basis.

Vedantu

Vedantu laid off 1,109 employees from its workspace. The company recently laid off 385 employees in the fourth session of the layoff this year. The company has laid off people from full-time and contract based as well.

WhiteHat Jr

WhiteHat Jr is a education based platform and its a subsidiary of Byju’s. The company has laid off 1,300 employees from its workspace.

Cars24

Cars24 is a platform for used car market. The company has terminated 600 employees from it workspace. Although the number might look small but it counts as 6% of its total workspace.

Mfine

Mfine is based on health industry and the company was found by former executives of Myntra. Mfine came into existence in December 2017. Mfine laid off 500 employees in May 2022.

Oyo

Oyo is a hospitality based firm which started 11 years ago in 2012. The firm is famously known by the name OYO Hotels & Homes. The company laid off 600 employees and said that it would hire freshers after some time.