- Indian startups have already laid off a little over 11,000 employees in the first six months of 2022.
- It could get even worse in the near future as experts expect Indian startups to layoff close to 60,000.
- Both low-funded and highly-funded startups have been impacted by this, and would be in the future too.
The prospects of a long funding winter has pushed several Indian startups to fire a significant chunk of their employees. However, amid the gloom there are some outliers who continue to hire employees even as they maneuver through the economic challenges.
Sridhar Vembu-led software-as-a-service (SaaS) company Zoho Corp plans to hire 2,000 employees in India and abroad this fiscal, as it plans to further scale its operations. Even TaCa Healthcare is continuing its hiring to strengthen its existing business and expand to new geographical locations.
The same stands true for other startups hiring amidst the chaos.
Transform talent with learning that worksCapability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More Indian startups have already laid off a little over
11,000 employees in the first six months of 2022 as the flow of capital is expected to remain constricted for the next 18-24 months. It could get even worse in the near future. Archit Garg, co-founder at Glamyo Health,
pegs startup layoffs at 60,000.
Both low-funded and highly-funded startups have been impacted by this, and would be in the future too. Yogita Tulsiani, the managing director and co-founder of global tech-recruiter iXceed Solutions, noted that most companies hired aggressively during the start of the pandemic and are unable to handle it now.
Amidst all this, these are the startups that are hiring at the moment:
| Startups | Hiring | Verticals | Timeline |
| Zoho | 2,000 | Software developers, quality assessment engineers, web developers, designers, product marketers, writers, technical support engineers and sales executives | FY2023 |
| Vivifi | 1,000 | Multiple verticals | FY2023 |
| VDO.AI | 100+ | Tech, sales, operations, finance and strategy | September 2022 |
| iThink Logistics | 120+ | Tech, marketing, sales in different locations like Mumbai, Surat, Jaipur, Delhi, Bangalore | FY2023 |
| Faircent | 200-250 | Technology and data analysts, predictive analytics, data mining technologies | 3-6 months |
| Collabera Technologies | 600-800 | BFSI, retail, life sciences and healthcare and Hi-Tech Industry | 4-6 week |
| TaCas | 400 | N/A | 6 months |
| LeadSquared | 800 | Sales and marketing, finance, product, engineering, delivery, and support functions | 8 months |
| MBA Chai Wala | 500 | Baristas, restaurant staff | 6 months |
| Utkarsh | 500 | N/A | FY2023 |
| HappyLocate | 600 | Sales, HR, accounts, operations, marketing and tech. | FY2023 |
| Sequretek | 500 | N/A | FY2023 |
Piyush Bhartiya, co-founder and CEO of AdmitKard — an end-to-end career advisory for students studying abroad — earlier in May highlighted that for every company that is laying off employees there are 100 others who are hiring.
“Like I said, some companies are laying off, others like ours are hiring. I do not see that will impact the employment ratios too dramatically,” he added.
SEE ALSOIndian markets open in the green – RIL, M&M gain while Nifty IT, Infosys declineAmazon Prime Day 2022 – early deals, bank offers, Prime membership and everything else you need to knowReliance Industries to start FY23 with strong earnings, thanks to refining margins
Next Story
Global stocks rally even as Sensex, Nifty fall sharply on Friday
In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
SBI Life Q4 profit rises 4% to ₹811 crore
IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
