Layoffs by Indian tech startups dip 60% in Jan-March this year, says report

Indian technology startups laid off more than 2,000 workers in the first quarter of the calendar year, but that’s 60 per cent less compared to the same period last year, according to a tracking website.

The layoffs declined occurred at a time when venture capital reduced, according to layoffs.fyi. Data showed that during the first quarter of 2023, as many as 43 companies laid off 5,358 employees. Edtech firm Byju’s had the largest chunk, firing 1,500 employees across design, engineering and production teams.