More startups to shed flab amid valuation bloat; layoffs 57% of CY22

Globally, 683 companies laid off 194,659 workers in 2023. This is already 18 per cent more than the 164,591 seen in 2022

Anoushka Sawhney New Delhi
startups, unicorn, funding, fintech, companies, firms

Reduced investment, large-scale layoffs have created dark times for tech globally

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Thousands of job losses in big start-ups hint at a trend of more pink slips in 2023 than the previous year at the present-day pace.
Some 8,134 employees have reportedly lost their jobs in India as of May 2023, according to data from technology’s (tech’s) big layoff tracker
The database collates figures which appear in several media reports. This is not an exhaustive list but may be broadly indicative of the trend in tech companies amid an adverse funding environment and a global economic slowdown.

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First Published: May 18 2023 | 7:35 PM IST

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