There has been a large number of layoffs of employees in big startups in the country for some time now. According to data collected by news website Moneycontrol, since February this year, around 4,500 employees of top startups in the country have been fired or forced to resign. These include the names of big startups like Car24, Vedantu, Meesho, WhiteHat Jr., Unacademy, OK Credit and Trail.
Startups reduced employees by 100%: According to the data, Car24 has laid off 600 employees, which is 6 per cent of its total workforce. Renowned education startup Unacademy has laid off 600 employees, which is 10 per cent of its total workforce. The country’s largest online e-commerce player Meesho has fired 100 per cent employees of its grocery arm. OK Credit has laid off 35 to 40 employees, which is 35 percent of its workforce, while WhiteHat Jr. has also forced 800 of its employees to quit. At the same time, ed-tech company Lido closed its operations in India and fired all the employees.