B2B E-COMMERCE PLATFORM Udaan sacked around 120 employees two days ago - 8% of its total staff strength - as part of its business restructuring process. Udaan's action is the latest in the flood of pink slips that startups have handed over this year.
According to data sourced from layoffs.fyi, 108 startups have laid off 15,098 employees in 2023 so far. This is higher than 59 companies sacking 14,224 employees in 2022, which included mass layoffs at Byju's, Ola and Unacademy.
In October last year, troubled edtech firm Byju's laid off 2,500 employees or 5% of its workforce in a bid to cut down costs. Udaan itself had laid off about 350 employees in November last year and another 180 in June before that.
Things have been no different at Byju's since then. It laid off another 2,500 in two rounds this year, followed by Sharechat which fired 500 in January. Besides these, unicorns such as Swiggy fired 380 and Pristyn Care fired 300 employees this year.
This story is from the December 19, 2023 edition of Financial Express Mumbai.
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This story is from the December 19, 2023 edition of Financial Express Mumbai.
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