The technology sector in India has seen three types of layoffs in 2022 and 2023, including major layoffs at well-funded startups due to funding pressure, large global tech firms cutting jobs in many countries including India, and complete shutdowns or significant workforce reductions at some companies. Education, retail, finance, food, healthcare, travel, transportation, and consumer startups accounted for over 80% of reported layoffs tracked by layoffs.fyi.
While their data is global, they do track layoffs in some major cities in India. We analysed the over-40,000 layoffs they have listed across 6 cities in the country. While this may not be comprehensive, it provides a more detailed view than broad, global numbers.Eight sectors they have tracked accounted for over 80% of these reported layoffs. These were education, retail, finance (including fintech), food, healthcare, travel, transportation and consumer startups.Many of these layoffs were from really well-funded startups.
