Indian Startups Face Financial Winter, Over 24,000 Workers Laid Off

New Delhi: Layoffs at Indian startups are unabated; to far, more than 24,250 workers have lost their employment in the ecosystem of domestic start-ups. Up to this point, 84 firms have laid off 24,256 people, according to the most recent data from the top startup coverage portal Inc42.

Practo has let go of 41 workers

The number of startups firing staff in the nation is constantly rising. As the financial winter persists, leading digital healthcare platform Practo has let go of 41 workers, largely engineers, as part of its ongoing performance assessment and planning process. Dunzo, an indigenous quick-grocery delivery service, has let go of roughly 300 people, or at least 30% of its workforce, following the completion of a $75 million new investment round.

ZestMoney is reportedly laying off 20% of its staff

ZestMoney, situated in Bengaluru, is reportedly laying off 20% of its staff, which will affect up to 100 workers. The media stated that domestic fantasy e-sports startup FanClash has let go of around 75% of its staff. Co-Founder and CEO of Unacademy Gaurav Munjal revealed late last month that the workforce would be reduced by 12%, or more than 350 workers, in order to "meet the goals we are chasing in the current realities we face." Among others, BYJU'S, Ola, OYO, Meesho, MPL, LivSpace, Innovaccer, Udaan, Unacademy, and Vedantu are among the startups that top the list of layoffs.

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Online higher education provider upGrad lay off roughly 30% of its staff

Recently, at least 100 employees of the home interiors and refurbishment website Livspace were let go as a result of cost-cutting measures. Dukaan, a SaaS platform for online retailers, fired off approximately 30% of its workforce, or about 60 individuals, marking the company's second layoff in almost six months. Up to 350 people from different departments, including those from the sales, tech, and product teams, were let go by the unicorn healthcare company Pristyn Care. At its subsidiary "Campus," the online higher education provider upGrad lay off roughly 30% of its staff.

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