Mass Layoffs Blotted Startups’ Employer Profile In 2023. Will 2024 Be Any Better?

Mass Layoffs Blotted Startups’ Employer Profile In 2023. Will 2024 Be Any Better?

SUMMARY

Around 43% of the 400+ founders surveyed felt that the string of layoffs has hurt talent's enthusiasm to join a startup and thus will elect to not associate with them

A similar number of founders (43%) believe that the potential workforce is unsure of whether the startups can provide them with a secure career choice

More than 35,000 people working with startups have lost their jobs since 2022

Companies resorting to mass layoffs is a common spectacle in the funding winter-riddled Indian startup ecosystem. According to Inc42’s layoff tracker, more than 35,000 people working with startups have lost their jobs since 2022. 

While 2022 was exceptionally bad for the Indian startup workforce, 2023 didn’t seem to provide any respite either, as 17,000+ startup employees received pink slips as of December 8, 2023. 

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