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14 Indian startups have sacked over 2,100 employees in the first three weeks of 2023

The number of layoffs has crossed last year’s three-week average of around 1,060 sackings as more companies take up the layoff route to stay afloat amid a stubborn funding winter.

January 24, 2023 / 12:34 PM IST
Over six among the list let go of more than 1,000 employees since the beginning of 2022.

Over six among the list let go of more than 1,000 employees since the beginning of 2022.

After a tumultuous 2022, the rough patch for startup employees is spilling into 2023 with a number of companies, including the well-funded ones, handing pink slips as funding dries up. According to data compiled by Moneycontrol, about 14 startups in India have laid off over 2,100 employees in the first three weeks of 2023.

The number of layoffs in this period has crossed last year’s three-week average of around 1,060 sackings as more companies take up the layoff route in an attempt to stay afloat amid a stubborn funding winter.

Startup layoffs cross 2,100 in first three weeks of 2023 Startup layoffs cross 2,100 in the first three weeks of 2023

Startups like Medibuddy, Swiggy, and Sharechat among others have joined the list of companies that have together laid off over 20,500 employees since 2022.