According to Inc42’s Indian startup layoff tracker, over 35,000 employees lost their jobs during the height of this crisis. However, the year 2024 brought some respite, with nearly 9K+ startup employees losing their jobs against 17K+ in 2023 Between January and November 2024, Indian startups raised over $10 Bn+, marking a 15% increase from $8.67 Bn raised in the same period last year.
This resurgence in funding has been instrumental in stabilising the ecosystem, reducing layoffs, and restoring some balance Standing on the precipice of 2024, we have compiled a list of Indian startups that have sacked their human resources in droves. This endeavour is part of the 11th edition of Inc42’s annual “Year in Review” series — 2024 In Review The past few years, especially after the onset of the funding winter in 2022, have been challenging for the Indian startup job market, as job cuts reigned supreme on the back of shrinking funding and expiring cash runways. Once celebrated for creating over 12.
42 Lakh jobs in India, the ecosystem started losing its sheen as a reliable employer. The root cause? A brutal combination of a harsh funding winter and cost-cutting measures by startups to sustain. According to Inc42’s Indian startup layoff tracker , over 35,000 employees lost their jobs during the height of this crisis.
However, the year 2024 brought some respite, with nearly 9K+ startup employees losing their jobs against 17K+ in 2023. This positive trend highlights a departure .
