After a heady couple of years during which digital media startups were raising large sums of money and rapidly expanding operations, the sector appears to
Tag: layoffs
In India’s Biggest Corporate Layoff, L&T Group Fires 14,000 Employees
Construction and technology giant Larsen and Toubro (L&T) has laid off almost 14,000 employees over the course of last 3 months across its verticals in
IBM To Reportedly Sack Over 1,00,000 Employees In The Biggest Corporate Layoffs Ever
In what could possibly be the biggest lay offs in the corporate history, IBM is reportedly planning to axe more than a jobs across the board.
Foodpanda Fires 300 Employees
The layoffs in India’s food tech sector are well on their way to continuing onto 2016. After Zomato had fired 10% of its workforce, and TinyOwl had let go of 100 employees which resulted in its cofounder being held hostage in their Pune office for 2 days, Foodpanda has fired around 300 of its staff in India. This represents 10% of its workforce.
More Firings In The Indian Startup Scene, This Time It’s Grabhouse
The firing season for Indian startups is not quite over. After the flurry of layoffs last month when Zomato, TinyOwl and Helpchat had fired employees, there had been a lull in the bad news coming in from India’s startup space. Not any more.
It has been reported that realty startup Grabhouse has fired an undisclosed number of workers. These layoffs are chiefly in the operations and data collection teams.
Hyperlocal Services Provider LocalOye Lays Off 60 Employees
In a continuation of the winter wave of startups layoffs, Bangalore based hyperlocal services provider LocalOye has laid off 60 employees.
In Layoffs And Retrenchments, There Is More Than Meets The Eye
Although there is huge outrage of start-ups retrenching employees, actual facts and figures behind these lays offs and shutdowns are not what meets the eye. Dearth of investments may not be the identified cause. Yes, the cheque sizes or amounts being invested in start-ups may be declining but the overall funding story is quite different.
None Of The Existing Online Grocers Will Survive: Kishore Biyani
Retail baron Kishore Biyani, head of the Future group, has been watching recent developments in the Indian hyperlocal sector with interest. He’s watched grocery delivery startups raise tremendous amounts of money and offer incredible discounts. He’s seen these companies attain some jaw-dropping valuations. But he isn’t impressed.
Sensitivity and Empathy Required During Layoffs
With startups like Localbanya, TinyOwl, Zomato, Helpchat letting go off employees, employees across the startup sector, where people were rushing towards until recently, are spooked. Indian startups require thousands of engineers and skilled workers, and now compete with large MNCs for talent, hence there is a huge demand and supply gap, which leads to salary hikes.
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