As the tech and startup sector is affected financial crisisWith over 12,000 in the Indian startup ecosystem, over 22,000 workers in the sector have lost jobs in 2022.

According to Crunchbase, startups, especially those that have benefited from a pandemic boom, are feeling the pressure, especially in the late stage, as valuations have begun to feel the pressure.

Startups now say that it is more difficult to raise fresh funding in this gloomy environment.

globally,
companies like netflixFinancial services company Robinhood and several crypto platforms have reduced their workforce.

In a world of crypto battered by economic headwinds, crypto exchanges and firms
including coinbaseGemini, Crypto.com, Wald, Bybit, Bitpanda and others announced reductions in their workforce.

Pokémon Go game developer Niantic has asked eight percent of its employees to leave the company, which is said to be around 85-90 people.

Elon Musk-run
Tesla cuts 10% like him
Salaried workforce.

As startups in India are firing their employees to ‘navigate through’funding winter’, led by edtech and e-commerce platforms, there could be a loss of more than 60,000 jobs in the country in 2022 alone.

Companies like Ola, Blinkit have shown door to date to around 12,000 startup employees.
BYJU’s (White Hat Junior, Topper),
Unacademy,
Vedantu,
Cars24,
Mobile Premier League (MPL),
Lido LearningI’m fine,
trellisfarEye, Furlanco and more.

Read also |
Influencers cry over delayed pay in trail; 100 more employees left the firm amid troubles

Industry experts say at least 50,000 more startups are likely to lay off employees this year alone in the name of “restructuring and cost management”, while some startups continue to receive funds worth lakhs.

Even several unicorns have laid off employees like Ola, Unacademy, Vedantu, Cars24 and Mobile Premier League (MPL).

stay high technology And Startup News that matters. to subscribe Get the latest and must-read tech news in our daily newsletter, delivered straight to your inbox.