Hiring of permanent workers fell 61% in start-ups: RazorpayX Payroll report

India’s start-ups are resorting to steep hiring cutbacks as the changing dynamics of the start-up ecosystem have led to a churn in the last 12 months, according to a report by RazorpayX, fintech firm Razorpay’s business banking platform.

With many startups facing the chills of a funding winter, most of them are cutting back on hiring, said the Annual Insights Report by RazorpayX Payroll.

The hiring of new permanent employees has dipped by 61 per cent as compared to October 2021. The dip in hiring is seen across seniority with CXO hiring dropping by 93 per cent during this period.