Layoffs in India

In June 2023, healthtech startup Glamyo Health, based in Delhi NCR, conducted significant layoffs as part of a broader cost-cutting effort amid challenging market conditions and a funding winter. According to reports and a police complaint filed by an employee, the company let go of around 50 employees over two months, with a sudden wave of terminations occurring just days prior without prior notice, severance clarity, or settled salaries. Allegations surfaced that the founders intended to leave India after shutting operations, though these were later contested. The layoffs impacted various roles, including doctors and medical coordinators. Glamyo Health, which provides elective surgery coordination and last raised $3 million in 2021, joins numerous Indian startups facing workforce reductions due to adverse economic pressures.

Mensa Brands, an e-commerce house of brands unicorn, has laid off approximately 30 employees from India Lifestyle Network (ILN), a content platform it acquired in December 2023. This restructuring, aimed at enhancing efficiency post-integration, affected less than 30 team members, contrary to earlier reports suggesting 200 layoffs. The company, which employs over 700 people, stated that impacted individuals received up to three months' salary, extended health insurance, and job search support. The layoffs reflect efforts to streamline operations following the acquisition, as Mensa focuses on scaling digital-first brands despite reporting a net loss in FY22.

Prosus-backed virtual events platform Airmeet has laid off approximately 30% of its workforce, affecting at least 75 employees out of a total of 250-300 staff. The layoffs, which occurred earlier this week, impacted teams across sales, marketing, technology, and operations in India, the US, and Europe. CEO Lalit Mangal cited reduced marketing budgets and rapid commoditization in the virtual event industry as key reasons, stating that current execution was not yielding the needed financial outcomes. The Bengaluru-headquartered startup, which raised $35 million in Series B funding over a year ago, aims to extend its cash runway and improve operational efficiency amid a broader funding winter affecting Indian startups.

Reliance JioMart, the online wholesale arm of Reliance Retail, has laid off over 1,000 employees as part of a major cost-cutting initiative following its acquisition of Metro Cash and Carry's India business. This move, reported in late May 2023, aims to eliminate role overlaps with Metro's existing 3,500-person workforce and streamline operations. The layoffs, which affected both ground and corporate staff, are part of a broader plan to reduce the wholesale division's 15,000-strong workforce by two-thirds. The company is shifting strategy from deep discounting to focus on improving margins, reducing losses, and consolidating fulfilment centres. This restructuring reflects the competitive pressures in India's B2B e-commerce and organized retail sector, where large players like Reliance are optimizing their operations for greater efficiency and profitability.

Fintech unicorn CRED-owned corporate expense platform Happay laid off approximately 35% of its workforce, affecting around 160 employees, as part of a significant restructuring move announced on May 12, 2023. The layoffs impacted various departments including sales, marketing, tech, product, and operations. With over 450 employees prior to the cuts, the decision was linked to the annual appraisal cycle and employee performance. Happay, acquired by CRED in a $180 million deal in December 2021, offered a severance package including three months' salary, extended insurance, and job placement assistance. This restructuring occurs as parent company CRED expands its fintech ecosystem while navigating substantial financial losses.

In May 2023, dental technology startup Toothsi, known for its clear aligners and endorsed by celebrities like Virat Kohli and Anushka Sharma, laid off approximately 20 to 30 employees. This reduction, impacting tech, product, and testing teams, was part of an effort to extend the company's financial runway amid a funding crunch, as it struggled to secure new investment. The layoffs occurred about a year after Toothsi raised $40 million, which was initially intended for team expansion into new markets and categories. Operating in the health-tech and personal care industry, the startup, which also runs the sister brand Skinnsi under the parent brand MakeO, joins a trend of startups downsizing to manage costs in a challenging economic environment.

Meesho, an Indian social commerce startup, laid off 251 employees, representing 15% of its workforce, on Friday to accelerate its timeline to profitability and work with a leaner organizational structure. This is the second round of job cuts, following 150 layoffs a year ago, as the company aims to reduce cash burn and achieve EBIDTA breakeven in 2023.

In May 2023, the Sequoia-backed edtech company Cuemath laid off approximately 100 employees across various departments, including marketing, technology, product, and operations. This workforce reduction occurred amid a broader "funding winter" impacting the edtech industry, as companies like Cuemath sought to cut costs and extend their financial runway. Concurrently, the company announced a leadership transition, with co-founder Manan Khurma resuming the CEO role while former CEO Vivek Sundar moved to an advisory position. Headquartered in Bengaluru and valued around $400 million, Cuemath specializes in one-on-one math tutoring for K-12 students. Despite reporting significant revenue growth, the company also faced escalating losses, contributing to the decision to restructure.

In May 2023, Indian e-commerce unicorn Meesho announced its second round of layoffs in just over a year, letting go of 251 employees, which represents approximately 15% of its workforce. CEO Vidit Aatrey communicated the decision via email, citing a challenging macroeconomic environment and admitting to judgment errors in over-hiring ahead of the curve. He noted the company's organizational structure had become inflated, affecting execution speed, and stated the need to align people costs with new business projections. This round marks the first job cuts within Meesho's core marketplace model, following a previous reduction of 250 employees from its grocery arm in 2022. The Bengaluru-based startup, valued at $4.9 billion and backed by investors like SoftBank and Sequoia, is among the new-age companies adjusting to a tougher funding climate.

Teachmint, a Bengaluru-based edtech startup backed by Lightspeed, has laid off over 70 employees in its second round of job cuts, conducted on May 4, 2023. This follows a previous round five months earlier where around 45 staff were let go. The layoffs, part of a restructuring effort to improve operational efficiency, primarily affected talent acquisition, tech, support, and quality analyst roles. The company, which operates in the competitive edtech industry, is facing significant financial challenges, with its net loss surging 24 times to INR 131.7 crore in FY22 amid rising costs and revenue pressures. Teachmint is offering a severance package of three months' salary to impacted employees.

Cars24, an Indian used car marketplace unicorn in the automotive e-commerce industry, has laid off nearly 100 employees in Indonesia as part of its decision to shut down operations in the country and Saudi Arabia. This move, announced in early May 2023, is a strategic shift to focus resources on core markets like India, Australia, Thailand, and the UAE. The layoffs follow a broader cost-cutting trend, as the company had previously let go of 600 employees across various verticals in May 2022 to reduce expenses and automate operations. Despite raising significant funding, including a $450 million round in 2021, Cars24 has faced financial pressures, with losses increasing to INR 248 crore in FY22, prompting a retreat from recent international expansions to prioritize sustainable growth in its established markets.

PharmEasy, a Temasek-backed healthtech startup in India, laid off an unspecified number of employees in early May 2023. The move comes as the company navigates a challenging market environment, having recently withdrawn its plans for an initial public offering (IPO) and seeking to raise funds at a lower valuation. While exact figures on the scale of the layoffs and total workforce are not provided in the available content, the restructuring reflects broader pressures within the healthtech and startup sectors as companies adjust their strategies for sustainable growth.

Vah Vah, a vocational training startup in India's edtech industry, laid off 150 employees in April this year before quietly shutting down operations. The company, founded in 2020 by former Zynga India head Shailesh Daxini, had raised $3 million in total funding from investors like Sequoia Capital India. The layoffs, which reportedly led to police intervention, came after Vah Vah reported a loss of INR 7 crore in FY22. The shutdown reflects broader challenges in the edtech sector, where many startups that grew rapidly during the pandemic are now struggling with weak unit economics and a funding winter.

In late April 2023, automation and data startup Cogito laid off 177 employees in India, representing a significant portion of its local workforce, which totals over 1,500. The layoffs, which constituted over 10% of its Indian staff, were triggered when a major client abruptly decided to scale down its operations, leaving the employees' project scrapped. The sudden terminations, which included 85 probationary staff, sparked protests at the company's Noida office, with affected employees alleging a lack of prior notice and unpaid salaries. However, Cogito's management refuted these claims, stating that full April salaries were paid and that the employees were satisfied with the company's handling of the situation. This event occurred against the backdrop of a challenging funding environment for Indian startups, forcing many to reduce costs to extend their financial runway.

In April 2023, the fintech and investment research platform Tickertape, which is backed by Smallcase, laid off 29 employees, constituting approximately 30% of its workforce. The layoffs were part of an internal restructuring, a move the company stated was influenced by a challenging funding environment that has impacted many startups. Tickertape, a platform providing tools and analysis for stocks and mutual funds, had raised $5 million in seed funding in late 2021. The company reported a loss of Rs 16.4 crore against revenue of Rs 3.01 crore for the fiscal year ending March 2022, highlighting the financial pressures within the competitive fintech sector.

Extramarks, a Reliance-backed edtech startup, laid off over 300 employees in mid-April as part of a restructuring effort to shut down its loss-making B2C business vertical. The layoffs, which primarily affected teams in sales, customer support, HR, marketing, tech, and content, were driven by significant financial losses, with the company reporting a net loss of INR 104.8 crore in FY21. Following the pandemic, a shift back to offline learning led to declining admissions and increased cash burn in the B2C segment. While Extramarks will continue serving existing B2C students, it will now focus entirely on its core B2B operations, which involve digitizing schools with educational content via LED screens. The company, founded in 2007 and headquartered in Delhi NCR, has not disclosed its total employee count, but the layoffs reflect a strategic pivot amid challenging market conditions in the edtech industry.

Edtech startup Skill Lync has laid off over 400 employees, representing more than 20% of its workforce of over 2,000, as part of a restructuring effort last week. The company, backed by Iron Pillar, cited challenging macroeconomic conditions and a need to moderate growth expectations, leading to role redundancies. Affected staff came from sales, marketing, tech, and talent acquisition teams. This follows earlier layoffs of 300-400 employees and office closures in Mumbai and Pune, with the Delhi NCR office also now shut. Skill Lync is consolidating operations in Chennai, Bengaluru, and Hyderabad amid a broader funding crunch in the edtech sector.

In April 2023, Indian neobanking unicorn Open laid off 47 employees, citing performance-based reasons amid a broader slowdown in fintech funding. The company, which became India's 100th unicorn in May 2022 after a $50 million Series D round, stated the layoffs were part of efforts to cut costs and extend its financial runway, with its founders also taking a 50% salary cut. While Open emphasized it is still hiring in key areas like growth marketing and product, affected employees reported abrupt dismissals with only one month's notice pay as severance. The firm, backed by Google and investors like Temasek, saw its losses widen to Rs 167 crore in FY22 despite revenue growth, reflecting the challenging market conditions prompting this restructuring.

Koo, the Indian microblogging platform and Twitter rival, has laid off approximately 30% of its workforce over the past year, affecting around 78 employees from its total of 260. The three-year-old startup cited the challenging market environment and global economic slowdown as key reasons, stating it needed to adopt a more efficient and conservative approach. Despite the layoffs, which occurred throughout 2023, the company emphasized it provided support to affected staff. Koo, backed by investors like Tiger Global and Accel, noted it is well-capitalized after a recent funding round and is focusing on revenue growth, claiming strong monetization metrics within India's competitive social media industry.

In April 2023, Indian teen-focused fintech startup FamPay conducted layoffs as part of a restructuring effort, with reports indicating nearly 50 employees were let go to cut costs and extend runway, though the company's CEO stated the number was less than 10. This follows the Bengaluru-based neobank's last major funding round—a $38 million Series A in 2021—with no subsequent raises, amid challenges in scaling and controlling expenses, as evidenced by a significant loss of Rs 43.3 crore against minimal revenue in FY22. The company, which has over 10 million users and had raised about $42.7 million total, also saw several top-level exits and was reportedly exploring fundraising or M&A opportunities, which its CEO denied.

Bluepad, a Bengaluru-based vernacular content platform, has shut down operations, resulting in the layoff of its entire team. The startup, which had raised $250K in pre-seed funding in 2021, was unable to secure further investment or establish a reliable monetization model. Founded in 2020 to serve as a "Medium for the non-English speaking population" with a focus on Marathi, Bluepad struggled to demonstrate strong user demand and sustainable revenue prospects. This closure reflects the broader challenges within India's startup ecosystem during a severe funding downturn, where many early-stage ventures have been forced to wind down.

In April 2023, Delhi-based electric vehicle startup Euler Motors laid off approximately 10% of its workforce, affecting around 50 employees out of a total of 500, as part of a restructuring effort. The company, which had raised $60 million in a Series C round led by GIC Singapore in late 2022, cited the need for a course correction amidst a challenging funding environment. Despite reporting strong year-on-year growth and a solid product order book, Euler Motors aimed to trim costs and improve financial sustainability, having seen its losses nearly double in the previous fiscal year. The layoffs reflect a broader trend among startups striving for profitability while scaling operations, with Euler targeting significant sales and production increases in the coming fiscal periods.

In April 2023, the buy-now-pay-later fintech startup Simpl laid off over 150 employees, which constituted more than 25% of its workforce. The Bengaluru-based company, which had raised $83 million in funding, undertook this significant cost-cutting measure to extend its financial runway and become a leaner organization amidst challenging economic conditions. The layoffs, communicated via email and a virtual town hall by the CEO, affected staff across various departments. This move followed a period of rapid growth and mounting losses, reflecting broader pressures within the BNPL industry.

Practo, a healthtech startup with over 1,600 employees, has laid off 41 staff members, representing a small percentage of its workforce, as part of its ongoing performance management process. The company stated the decision was based on performance issues and not a broader restructuring, emphasizing its commitment to supporting affected employees. Despite the layoffs, Practo reported record-high revenues, margins, and profits, and plans to hire 500 new employees in the coming year. This move aligns with a trend of retrenchments in the Indian healthtech sector, where several startups have conducted layoffs amid funding challenges and performance evaluations.

ZestMoney, a Goldman Sachs-backed buy-now-pay-later (BNPL) fintech platform with around 450 employees, is planning significant layoffs across departments following the collapse of its acquisition deal with Walmart-backed PhonePe. The deal fell through in late March 2023, leaving the company in financial distress and forcing it to adopt a survival plan that includes workforce reductions. While the exact number of employees to be laid off is not yet specified, the founders have actively sought outplacement assistance for the impacted staff. The layoffs are a direct consequence of the failed acquisition, which has created an immediate liquidity crisis for the company.

Dunzo, a Reliance Retail-backed quick commerce startup, has laid off approximately 30% of its workforce, affecting around 300 employees, as part of a restructuring effort to conserve cash and move toward profitability. This significant reduction follows a previous round of job cuts earlier in the year. Concurrently, the company has secured $75 million in funding through convertible notes, with major contributions from Reliance Retail and Google. The layoffs and funding are part of a broader shift in Dunzo's business model, reflecting the challenges faced by startups that expanded rapidly during periods of easy capital. The news emerged in recent reports, highlighting the ongoing adjustments in India's competitive quick commerce industry.

In April 2023, Indian kirana tech startup 1K Kirana laid off a significant portion of its workforce as part of a major business restructuring. While the company officially stated it let go of 40% of employees, sources indicated the cuts were much deeper, affecting over 600 people—approximately 60-70% of a workforce that had been over 1,000 following a 2022 funding round. This left the company with only about 200 employees. The layoffs, which began in November 2022 and continued through March 2023, impacted teams across on-ground operations, warehouse, delivery, network operations, growth, and tech. The restructuring was driven by changed growth forecasts, a withdrawal from several geographies, and difficulties in raising fresh funding as investors shifted focus toward profitability.

FanClash, a Delhi NCR-based fantasy esports startup backed by Sequoia, Polygon, and Info Edge, has laid off approximately 100 employees, representing about 75% of its workforce, in three rounds this year. The primary reason for these significant layoffs is the Indian government's ban on the popular battle royale game BGMI in July last year, which had been a major revenue driver, especially among users from Tier-2 cities. This disruption forced the company to restructure, deprioritize non-core streams like the fantasy Web3 platform FanGuild and fan engagement platform FanSpace, and pivot its business model. The layoffs occurred during a period of low esports tournament activity, further impacting daily active users. Affected employees received a two-month salary as severance.

Edtech unicorn Unacademy has laid off 12% of its workforce in its fourth round of job cuts within a year, as the company intensifies its push toward profitability amid a tough funding climate and a global economic slowdown. CEO Gaurav Munjal announced the decision via Slack, citing the need to operate in a "much leaner manner." Including this latest reduction, the total number of employees let go across Unacademy's group companies now exceeds 1,900. The impacted employees will receive severance pay equivalent to their notice period plus an additional month's salary. The Indian edtech sector has faced significant challenges since offline educational institutions resumed operations post-pandemic, with Unacademy reporting a consolidated loss of INR 2,848 crore in FY22 despite revenue growth.

Fintech startup Smallcase, backed by Sequoia and valued at $200 million, laid off 15 employees, representing 4% of its workforce, as part of a restructuring exercise over a three-month period ending around March 2023. The company described the move as a normal business adjustment, but sources indicate it followed the implementation of Performance Improvement Plans and came amid growing financial pressures. Smallcase reported a significant increase in losses, reaching Rs 76.2 crore in FY 2021-22, a 196% year-on-year rise, largely driven by a surge in marketing and promotional expenses. Founded in 2016, the platform enables retail investment in stock and ETF portfolios.

Home renovation and interiors unicorn Livspace laid off over 100 employees, representing about 2% of its workforce, on March 17 as part of a cost-cutting exercise to extend its runway amid a challenging funding environment. The layoffs primarily impacted product, engineering, content, and marketing teams. While sources claimed affected employees were not offered severance, the company stated it provided an assistance package, extended medical insurance, and outplacement support. Livspace, which reported a significant loss in FY22, aims to achieve profitability in the coming year while focusing on efficient capital deployment.

Retail tech startup Dukaan has laid off approximately 56 employees, representing about 30% of its workforce, in its second round of job cuts within six months. The layoffs, confirmed by founder Suumit Shah earlier this week, primarily affected inside sales teams and account managers. This restructuring is due to a strategic shift in the company's focus from serving small and medium businesses (SMBs) to helping direct-to-consumer (D2C) brands scale up. The Bengaluru-based, Lightspeed-backed startup, which raised $12.4 million in a pre-Series A round in 2021, offered a two-month salary severance package to impacted employees. This move reflects broader trends in the Indian startup ecosystem, where companies have laid off around 23,000 employees since 2022 amid a funding winter.

Pristyn Care laid off 300 employees representing approximately 15% of its workforce on 2023-03-07.

UpGrad laid off 120 employees on 2023-03-06.

HomeLane, an online home interior and renovation platform, laid off approximately 30 to 40 employees in product and technology roles in early March 2023. This reduction affected a small percentage of its workforce, which is estimated to be between 1,000 and 5,000 employees. The layoffs were part of the company's strategic shift to achieve EBITDA profitability by June, leading to the shutdown of some ongoing initiatives. This decision occurred against the backdrop of a challenging funding environment and broader market uncertainties impacting the tech industry. The Bengaluru-based company, which operates in the home services and interior design sector, had reported a significant net loss of ₹153 crore in FY22 despite growing revenues.

Pune-based health tech startup Fittr has laid off approximately 11% of its workforce, amounting to around 30 employees according to the company, though sources indicate the number could be as high as 60 since last year. The layoffs, occurring over the past 6-8 months, affected marketing, sales, client servicing, and tech teams, and were attributed to role redundancy following a period of post-COVID hyper-growth and hiring. This restructuring comes as the company, which operates a community-driven fitness platform, slipped into a loss of INR 25.2 crore in FY22 despite a rise in revenue, prompting a realignment of roles with future growth plans.

Flipkart, a major Indian e-commerce company, has been conducting a stealth downsizing exercise, according to internal sources in early 2023. While the company officially denies layoffs, reports indicate an unusually large number of employees have been affected through workforce streamlining and performance improvement programs (PIPs) following annual appraisals. The process, described as a rationalization measure, involved sudden virtual meetings where employees were asked to resign without clear reasons provided. This move aligns with broader cost-cutting trends in the tech industry during that period.

DUX Education, a K-12 edtech startup based in Bengaluru, is ceasing all operations by April 2023 due to an inability to secure funding amid the ongoing investment crunch in India's startup ecosystem. The company, which had a team of nine employees managing over 250 online batches, will wind down after completing the academic year through March. Founded in 2020, DUX served more than 15,000 students with curriculum-based online classes but ultimately could not sustain itself without fresh capital, joining a growing list of edtech closures and layoffs across the industry.

SAP Labs, the research and development unit of German technology giant SAP, laid off approximately 300 employees in India in late February 2023. This reduction, primarily affecting offices in Bengaluru and Gurgaon, resulted from the closure of a global delivery center that handled custom development for SAP implementation projects. The layoffs are part of a broader strategic transformation, as the company shifts focus toward cloud services and high-growth opportunities, aligning with a global restructuring that impacted around 3,000 roles. Affected staff, including some with over a decade of experience, received severance packages based on their tenure. This move contrasts with SAP Labs' earlier plans to significantly expand its workforce in India by 2025.

Bengaluru-based community and security management startup MyGate has laid off 30% of its workforce, approximately 200 employees, reducing its team from 600 to 400. This recent round of job cuts, affecting mid-management and junior roles, follows a similar reduction in December 2022. The layoffs are attributed to the ongoing funding winter and macroeconomic pressures, a trend impacting many Indian startups and global tech giants. MyGate, founded in 2016 and backed by investors like Tiger Global, provides security solutions for residential complexes. The company offered a two-month severance to some affected employees, while others received no package.

In February 2023, the direct-to-consumer and retail meat brand Fipola ceased all operations, entering a liquidation process to clear outstanding dues. The company, which had previously announced aggressive expansion plans aiming for 250 outlets across India by 2023-24 and had appointed actor Nayanthara as brand ambassador in August 2022, was forced to shut down. Founder and Managing Director Sushil Kanugolu cited an inability to raise necessary funds due to unfavorable market conditions as the primary reason. This followed months of speculation and complaints from unpaid vendors and some staff in late 2022. The closure affected its 48 stores across several South Indian cities and its online services, marking a significant shutdown in the D2C retail meat industry.

Bengaluru-based healthtech startup PhableCare laid off hundreds of employees over several months starting in October 2022, drastically reducing its workforce from over 800 in August 2022 to around 200. This represents a cut of more than 70% of its employees. The layoffs, which affected sales, marketing, product, and tech teams, were driven by a severe cash crunch following a period of high burn rate after a $25 million funding round in March 2022. The company struggled to raise new funds amid a broader funding winter, leading to delayed salaries for months and forcing many employees to depart. The healthtech firm, which reported a significant increase in net losses for FY22, is now seeking a merger or additional funding to survive.

TikTok India has terminated its entire local workforce, laying off 40 employees in February 2023. This move effectively shuts down its operations in the country, following the Indian government's ban on the app and hundreds of other Chinese applications in June 2020 due to national security concerns. The employees, who had been working remotely from locations like Brazil and Dubai since the ban, were informed that restarting operations in India was unlikely given the government's stance. They were offered a severance package of nine months' pay. Prior to the ban, TikTok had amassed over 200 million users in India. The company, owned by ByteDance, is also facing increasing regulatory scrutiny and potential bans in other markets, including the United States, over similar data privacy and security concerns.

Bengaluru-based cryptocurrency startup WeTrade has ceased operations and laid off its entire workforce, reportedly last month, amid a severe "crypto winter" and hostile market conditions. The company, which launched in 2022, disabled its trading services on January 17, 2023, and is now focusing on returning customer funds. While the exact number of employees affected is not specified, sources indicate a full team layoff as the startup shuts down. The decision is attributed to the deepening funding winter and extreme uncertainty in the crypto industry, which has particularly impacted early-stage ventures like WeTrade. The company had previously raised INR 15 crore and aimed for significant growth, but could not withstand the ongoing market downturn.

In February 2023, digital entertainment company Pocket Aces laid off 50 employees, representing 25% of its 200-person workforce, as part of a shift to a leaner operating model aimed at achieving profitability. The layoffs, affecting content, production, and post-production teams, are intended to reduce costs and streamline operations, with the company planning to outsource certain functions while focusing more on creator-led short-form content. CEO Aditi Shrivastava stated the move would help Pocket Aces reach operating profit in the 2023-24 financial year, with affected employees receiving financial support, health insurance, and outplacement assistance.

Microsoft-backed SaaS logistics startup FarEye has laid off 90 employees this week in its second round of job cuts within eight months, citing macroeconomic headwinds and the need to align its business strategy with market demand. The layoffs impacted various departments including tech, product, and sales across its global offices. This follows a previous round in June last year that affected around 250 employees. Despite a 53% increase in operational revenue to INR 97.6 Cr in FY22, the company's net loss widened significantly to INR 232.5 Cr. FarEye, which provides last-mile delivery automation software to clients like Domino's and Tata Steel, continues to focus on product innovation while offering severance packages to those impacted.

In February 2023, the Indian edtech giant Byju's conducted another significant round of layoffs, letting go of nearly 1,500 employees. This follows a previous round in October 2022 that affected about 2,500 staff. The layoffs primarily impacted the design, engineering, and production teams, with the company citing cost optimization and plans to outsource various functions, including operations and customer care. This move occurs amidst a broader funding crunch in the startup ecosystem and Byju's own substantial financial losses, as the unicorn seeks a path to profitability. The process was reportedly abrupt, with affected employees receiving in-person notices.

DealShare, a Tiger Global-backed e-commerce unicorn in India, laid off approximately 100 employees in January 2023, representing about 6% of its 1,500-strong workforce. This decision was driven by the need to rationalize expenses amid a challenging funding environment and macroeconomic headwinds. The company's annualized revenue rate had fallen by a third to around $600 million from a peak of $900 million, attributed to reduced consumer discretionary spending. As part of its strategy shift, DealShare is pivoting from a group buying model to a social commerce approach, focusing on existing geographies rather than expansion, and has significantly reduced its monthly cash burn.

Inmobi laid off 50 employees on 2023-01-23.

In January 2023, the edtech startup Camp K12, headquartered in California and operated from Gurugram, laid off approximately 70% of its workforce. The company, which had expanded from a coding bootcamp to teaching math and English online, faced severe financial distress, leading to this drastic staff reduction. Former employees reported that the company was not paying their December salaries, and remaining workers were allegedly prevented from resigning, with management refusing to provide relieving letters. This situation highlights the broader challenges within the edtech industry, as Camp K12, once positioned as a rival to larger coding platforms, struggled to sustain operations amid a turbulent market.