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Business News/ News / India/  Thousands have lost jobs in India; these layoff numbers will blow your mind

Thousands have lost jobs in India; these layoff numbers will blow your mind

Nine companies have laid off 100% of its workforce. And, there are many who have let go thousands of their employees.

Amzon has laid off over 27,000 employees.Premium
Amzon has laid off over 27,000 employees.

Over 36,400 people lost their jobs in India in the last couple of years, as per the latest data from Nine companies, including Lido Learning, SuperLearn and GoNuts, have laid off 100% of its workforce. According to the website that tracks tech sector job cuts, five companies laid off 70-75% of its workforce. Such companies include GoMechanic, PhableCare and MFine.

Byju’s is leading the number of layoffs with 4,000 employees losing their jobs at the company. WhiteHat Jr laid off 1,800 employees in January 2021 and then 300 in June 2022. Bytedance terminated 1,800 employees in January 2021. In June 2020, Paisabazaar let go 1,500 people, 50% of its workforce.

Also Read: Another bad news for laid off Google employees, may not get paid for approved maternity or medical leave

Swiggy has laid off 2,880 employees since May 2020. It sacked 800 employees in April 2020, 350 in July 2020, 250 in December 2022 and 380 in January 2023. In comparison, Zomato has laid off just 620 people since May 2020. It let go 520 employees in May 2020 and 100 in November 2022.

Ola has laid off its employees four times since May 2020. In May 2020, it laid off 1,400 employees while it sacked 1,000 people in July 2022. In September 2022, it asked 200 people to leave and terminated 200 employees again in January 2023.

Unacademy has laid off 1,500 employees so far, all of it came in 2022. The layoff came in three phases; 1,000 in April, 150 in June and 350 in November.

On the global front, 503 tech companies have laid off 148,165 employees so far this year. The year 2022 was challenging for the technology industry and startups. At least 1.6 lakh workers lost their jobs in 2022, and the year 2023 has begun on a similar note.

Also Read: Amazon announces fresh round of layoffs, to cut 9,000 jobs in coming weeks

Amazon has contributed to the worsening outlook for the technology industry by terminating an additional 9,000 employees. This comes after they had previously fired 18,000 employees. Meanwhile, a significant number of other companies have also laid off a substantial amount of workers this year, with almost 1.5 lakh individuals being affected to date.

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Sounak Mukhopadhyay
Sounak Mukhopadhyay, who also goes by the name Sounak Mukherjee, has been producing digital news since 2012. He's worked for the International Business Times, The Inquisitr, and Moneycontrol in the past. He's also contributed to Free Press Journal and TheRichest with feature articles. He covers news for a wide range of subjects including business, finance, economy, politics and sports. Before working with digital news publications, he worked as a freelance content writer.
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Published: 22 Mar 2023, 11:35 AM IST
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