AROUND 101 TECH firms fired 25,436 employees globally in the first few weeks of January, according to layoff tracking site layoff.fyi. The tech industry, including Big Tech and startups, together laid off over 17,000 employees in India in 2022.
Even as they continue to sack employees at frequent intervals, startups maintain they are also on the lookout for fresh talent and therefore hiring.
For instance, Zomato, which recently fired over 100 employees, has said it is hiring for 800 roles. Cars24, which let go 600 staffers last year, announced it is looking for 500 new recruits. In December 2022, UpGrad sacked 70 people, but plans to increase its total headcount by 1,400 to 9,100 by March.
Byju's which has axed over 3,500 jobs over the past year or so, plans to hire 10,000 more, adding to its 50,000-member team. Edtech startup Lead, which handed pink slips to about 60 employees last month, is also looking to onboard 100150 staffers. More recently, another edtech firm, Physics Wallah, said it would be adding 2,500 fresh roles as the company continues to scale up.
According to Kamal Karanth, co-founder, Xpheno, a specialist staffing firm, the worst for the startup jobs market seems to be largely over.
This story is from the February 06, 2023 edition of Financial Express Mumbai.
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This story is from the February 06, 2023 edition of Financial Express Mumbai.
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