India sees hidden layoffs triple reported figures, driven by funding cutbacks and cost-cutting: Study

  • Data from tech hiring firm TopHire reveals around 100,000 employees have been laid off in India in two years, triple the number represented by publicly accessible data.
  • Majority of these job losses occurred in the edtech sector with BYJU’s having the highest layoffs, followed by retail/e-commerce and then the food and quick commerce sectors.
  • Subdued venture funding, leading to cost cuts, and corporate governance lapses are the main reasons behind these layoffs.
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