Layoff Scare: Indian Start-Up Sector’s Troubles To Continue!

Startup is a good platform for young minds and entrepreneurs to prove themselves and shine big. The concept which was a popular one in the West gained a big momentum in India in the past few days. We have seen many start-ups coming into the picture. The big companies that are enjoying a good run were once start-ups.

However, things are not going well for the startup sector in India for the past few years. After facing a big setback in the form of the Covid outbreak, the sector went for massive layoffs in two years. Across the fields and irrespective of size, the employees were sacked as part of managing the workforce.

As per the data, Start Ups sacked more than 35,000 employees in the last years. While over 18,000 employees were fired last year, more than 17,000 were fired already. Even the big companies went for the layoffs.

It looks like there will be no relief for the sector in 2024 as well and it is predicted that the layoffs will continue next year too. A recent study found that the layoffs would continue next year too.

The experts say that the start-up sector would not have relief next year too as there is a big possibility of the companies to lay off employees. Employees pinned high hopes that 2024 might be different and they might not have to face issues. But the industry trends have to say something else. It looks like the employees have to plan something to deal with the possible playoffs.