Katya Naidu22 Jun 2023, 14:01
As India's startup sector faces financial difficulties, over 4,986 employees have lost their jobs so far in FY24, with Bangalore seeing the worst of the job losses. Major companies like Reliance JioMart and BYJU's have laid off 1,000 workers each, due to various reasons including financial troubles and the need to streamline operations. The job market has also been affected by technological disruption in areas like the IT sector, with hiring rates dropping by 7% YoY in June and 4% MoM. However, there is hope for future job growth as the economy strengthens.