Saturday, August 13, 2022

More than 32,000 tech workers laid off in the US, more than 11,000 in India this year

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More than 32,000 tech workers have been laid off in the US until July this year, including at big tech companies such as Microsoft and meta (formerly Facebook) and the worst is not over for the tech sector that has seen massive stock sell-offs.



According to data collected by Crunchbase, more than 32,000 workers in the US technology sector were laid off at the end of July due to massive job losses.

“We included both startups and publicly traded companies based in the US. We also included companies based elsewhere that have a significant team in the United States, such as Klarna,” the analysis said.

The layoff includes ride-sharing platform Uber, Netflix and various cryptocurrency exchanges and lending platforms.

Robin Hood, shinier and Better are just some of the tech companies that have cut their workforces this year.

As of April 1, this year, more than 43,000 employees of 342 technology companies/startups around the world have been laid off and more than 13 percent are Indiaaccording to the latest data collected by layoffs.fyi, a website that tracks layoffs at startups.

In India, more than 25,000 start-up workers have lost their jobs since the start of the pandemic – and more than 11,500 have been laid off this year.

The layoffs in India are dominated by edtech platforms such as Unacademy (1150 employees), BYJU’S (550 at Toppr and Whitehat Jr) and Vedantu (624), together with ride-hailing platform ola (almost 500), healthcare startup Mfine (600) and the used car platform Cars24 (600) among others.

The other Indian startups and unicorns that have laid off workers are Meesho, MPL, Trell and Blinkit (now owned by Zomato), among other things.

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