June 30, 2023
The other half of 2022 and the first half of 2023 saw massive layoffs across Indian startups because of the constantly declining funding numbers for startups and lesser consumer demands.
From Unacademy and Swiggy to Byju’s and Meesho, several startups saw huge layoffs and cited reasons such as restructuring and cost-cutting for the same.
A total of 4,000 employees from the Byju’s Group were fired since last year. The Byju’s Group comprises of Byju’s, WhiteHat Jr and Toppr.
Food delivery app Swiggy laid off 380 employees from its workforce in the first four months of 2023, that is, from January to April.
Unacademy cited cost-cutting as the reason for laying off 350 employees in 2023.
E-commerce platform Meesho sacked 251 employees from its workforce which is around 15% of the total team strength. This was done in a bid to turn sustainable.