Bengaluru accounts for four out of five layoffs by Indian companies in 2023

Mar 10, 2023

By: Rounak Jain

Indian startups have laid off over 5,000 employees in 2023 so far

Indian startups laid off 5,057 employees in 2023 so far, across the edtech, food and healthcare sectors, according to Layoffs.fyi.

Credit: Canva

Four out of five layoffs in Bengaluru

Bengaluru alone accounts for 4,087 of the total layoffs, translating to 4 out of 5 layoffs this year.

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Mumbai and Gurugram come next

Mumbai and Gurugram came in next, with 390 and 325 layoffs, respectively.

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New Delhi, Indore and Pune see the least layoffs

New Delhi, Indore and Pune saw the least number of layoffs at 150, 75 and 30, respectively.

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Two companies account for 40 percent of the total layoffs

Edtech major Byju’s, and social media platform ShareChat have fired 1,500 and 500 employees this year, respectively – accounting to nearly 40 percent of the total layoffs.

Credit: Byjus

Education sector accounts for a third of total layoffs

Education sector, largely due to Byju’s, accounted for a third of the total layoffs at 1,740.

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Four out of five layoffs in Bengaluru

Education, food, consumer and healthcare sectors together accounted for 3,395 layoffs – every 2 out of 3 employees laid off came from one of these four sectors.

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149 companies have announced layoffs in India since the pandemic

Since the Covid-19 pandemic broke out, 149 companies have announced layoffs in India.

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A total of 36,293 employees shown the door

These companies have fired 36,293 employees in the last three years.

Credit: Canva

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