Tech Trouble: Over 32K Workers Laid Off in US, More Than 11K in India This Year
SAN FRANCISCO, CA (IANS) – More than 32,000 tech workers have been laid off in the US till July this year, including at Big Tech companies like Microsoft and Meta and the worst has not been over yet for the tech sector that has seen massive stock sell-off.
According to the data compiled by Crunchbase, more than 32,000 workers in the US tech sector have been laid off in mass job cuts, as of late July.
“We’ve included both startups and publicly traded companies that are based in the US. We’ve also included companies based elsewhere that have a sizable team in the United States, such as Klarna,” the analysis said.
The layoff includes ride-sharing platform Uber, Netflix and several cryptocurrency exchanges and lending platforms.
Robinhood, Glossier and Better are just a few of the tech companies that have trimmed their headcount this year.
Since April 1 this year, more than 43,000 workers from 342 tech companies/startups have been laid off across the world and over 13 per cent are from India, according to latest data compiled by layoffs.fyi, a website that tracks layoffs in startups.
In India, more than 25,000 startup workers have lost jobs since the pandemic began — and more than 11,500 have been fired this year.
The layoffs in India are dominated by edtech platforms like Unacademy (1,150 employees), BYJU’S (550 at Toppr and Whitehat Jr) and Vedantu (624), along with ride-hailing platform Ola (nearly 500), healthcare startup MFine (600) and used cars platform Cars24 (600), among others.
The other Indian startups and unicorns that have laid off employees are Meesho, MPL, Trell and Blinkit (now owned by Zomato), among others.