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EDITOR
FROM THE

The ‘Disquieting’ Trend: Startups’ Massive Layoffs

While thousands of professionals today stare at an uncertain future amid
fierce inflation & economic downturn, it seems like the party is getting over
for Indian startups!
According to Inc42’s assay, in the first six months of this year, more than
10,000 staff have been laid off by at least 27 startups across the country,
citing reasons like Restructuring, Financial Constraints and mostly ‘cost
cutting’.

The list accommodates unicorns like OLA, BYJU’S, Vedantu, Unacademy,
Blinkit, Cars24, Meesho, PharmEasy, MPL, Mfine and many others.
What is more concerning is that the layoff count may rise to over 60,000
in the next six-to-nine months (acc. to a Business Insider report)

As funding dries up for the Indian startups, there is an estimation that the
situation could breathe like this for two more years. According to Inc42’s
piece, “The slowdown prompted marquee investors such as Sequoia, KKR
and Y Combinator to instruct the startups in their portfolios on how to
survive. There was a clear message in common across all investors: cut
costs and increase runway.”

Now, among all the options to curb spending, laying off seems to be a
quick and easy solution from the basket of other factors like hiring freeze,
cutting down marketing costs and others. The over-hiring which was done
by startups during the sunny days somehow added fuel to the fire.

During this turmoil, many livelihoods are getting disrupted every day.
What about their stagnant future?

Until next time!
Editor in Chief & Publisher
Pooja Kundoo
linkedin.com/in/pooja-kundoo

|4 thecorporatereview.com | India | Vol. 3 | Issue 5| July 2022 |5