Startup employees have had a tumultuous 2022. With funding drying up, a number of companies, including the most well-funded, have laid off large numbers of employees. Startups in India have laid off close to 20,000 employees this year, according to data compiled by Moneycontrol.

The mass layoffs at the start of 2022 followed a year of aggressive hiring and high employee costs as tech salaries skyrocketed in 2021, a time when new-age tech startups led the talent war to support their unprecedented growth with funds pouring into the Indian startup ecosystem.

https://www.moneycontrol.com/news/business/startup/indian-startups-laid-off-close-to-20000-employees-in-2022-as-ecosystem-faces-prolonged-funding-winter-9774381.html