Your browser is currently blocking notification.
Please follow this instruction to subscribe:
X
Notifications are already enabled.
X

#StartupsVsCovid19: Indian Startup Layoffs, Pay Cut Tracker

#StartupsVsCovid19: Indian Startup Layoffs, Pay Cut Tracker

In the social commerce sector, startups like Meesho, Shop101 have let go of employees

Fintech players haven't resorted to layoffs but have introduced company-wide pay cuts

Tech startup unicorns like Grofers, BlackBuck etc have also laid off employees

The countrywide lockdown has further stretched the burden of survival on the Indian startups. With cost-cutting measures in place, several job cuts are already done, people are on temporary leave while others have been asked to take pay cuts. And this is not all, as the lockdown increases, there is another wave of layoffs expected in the next few months by the market watchers.

Right now, there are only two choices for business— either survive or save jobs. Either way, the costs are high. The debatable concern is that would you rather save jobs right now and risk losing the business entirely in the next few months or save the business right now at the cost of human capital?

It’s a real-life ‘Sophie’s Choice’ and there is no right or wrong answer, but each choice will lead businesses down a different path. So, every business is doing the best they can — revisiting costs and identifying the right cost to cut to stretch the runway.

As the ecosystem faces uncertainty about the future, there are companies resorting to various decisions to help in the crisis. Inc42 has compiled and verified the data of the pay cuts, layoffs and furloughs happening in the ecosystem directly from companies or our sources.