Over 20,000 Employees Fired: A List Of All CoVid19 Startup Layoffs In India So Far

OfficeChai Team

By now the huge economic impact of the coronavirus pandemic is apparent. With extended lockdowns prevalent around the world and economies being almost shut for 3 months since March now, companies have faced a loss of revenue, burned their cash on fixed costs and employees, and have had to resort to all means of cost-cutting. One of the biggest pitfalls of these cost-cutting measures has been instituting large-scale layoffs. While larger companies in India like Reliance, Infosys, TCS, ITC etc. have instituted paycuts across the aboard and levied a hiring freeze, India’s vaunted startups have had to take rather extreme measures to conserve capital and stretch their VC dollars. While a few have tried reimagining their core business and pivoted to offer newer product market fits for a Covid19 ravaged world, they have also had to let go large chunks of their workforce to cut costs. News of layoffs across startups has been coming in thick and fast. Here’s a list of all the startups that have had publicly announced layoffs so far. This list will be updated in real time as and when we get hold of them.

how businesses adapt to coronavirus

How Indian Startups Worst Hit By Covid19 Have Launched New Product Market Fits To Stay Afloat

OfficeChai Team

Some Indian startups have been affected more than the others by the Covid19 crisis, and some have responded better than the others. These companies have bent their business models, unlearnt everything, looked beyond their core product, and come up with new ways to find new income streams and ways of staying stay relevant and staying afloat. While most Indian startups are needing to resort to extreme cost cutting measures by instituting huge paycuts and layoffs, they’re also coming up with ways to find new income streams.