Someone’s loss is someone’s gain. These startups are proving so

Smaller firms are keeping a hawk’s eye on layoffs in bigger players. The cost cutting and layoffs in bigger tech startups are working in favour of smaller ones.

Executives at senior levels, who are forced to exit bigger companies, are being hired by fresh startups.

"Once we got to know that a Mumbai-based company would be resizing their staff, we parked four of our tech architects and the HR (human resource) at Mumbai for two days for back-to-back interviews. That was very fruitful as we will be onboarding a senior product lead and an analytics person soon," Manish Chopra, co-founder of deal discovery firm Little, told ET.

With this move, smaller firms get experts in their team and can focus more on moving ahead, instead of trial and error.

"On an average, each founder I have spoken to has recommended three to four employees. It is the humane thing to do when the company is unable to raise funds or is looking to resize its employee base," Pranav Goel, co-founder at mini-truck aggregator The Porter, told ET.

When talking about salaries, small startups have higher packages as well and also give stock options.

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