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Start-Ups 'Funding Winter' to Trigger Thousands of Lay Offs?
By: Tupaki Desk | 5 July 2022 7:12 AM GMT
There is no doubt that the Covid pandemic brought the biggest crisis we faced. It brought both good and bad elements. The bad thing is that millions of people turned unemployed with the financial crisis and the start-ups seeing an encouraging atmosphere and a lot of chances is the good thing.
With everything around us getting into a pause moment, more and more start-ups came up to offer various services. To fill the gap created by Covid, online education platforms saw a big boom. Start-ups provided education for school and college students so that they won't miss the subjects.
Indicating that the lifespan of the start-ups is short-lived, the firms are on a spree of reducing the workforce as part of the restructuring process. The start-ups irrespective of the fields mainly the online education sector are seeing a massive dip in the workforce. As of now, around 12,000 employees lost their lives.
The start-ups are facing a big issue in getting funds. With no funds, the firms are keeping the workforce as less as possible. Only employees who hold the key posts are retained. In some cases, key employees were also asked to look for other alternatives.
Well, the tough time is not over yet and the worst is yet to come. This year, more than five times the workforce that was removed will be removed by the start-ups. A recent study says that more than 60,000 employees will be sacked by start-ups.
Running the firms without funds had turned out as a big concern and struggle for the start-ups. To beat this, the entrepreneurs are implementing the cost management model and are removing the workforce in a phased manner. However, the workforce that lost jobs is very less when compared to drop in the jobs during the Covid pandemic.
Looking at the global level, the companies in the United States are also removing employees. Not just the small companies, but big companies like Elon Musk's Tesla, game developer Niantic, Netflix, Cap Gemini, and others also laid off their employees. This shows the problematic situation faced by the companies. The techies are getting removed in big numbers.
With everything around us getting into a pause moment, more and more start-ups came up to offer various services. To fill the gap created by Covid, online education platforms saw a big boom. Start-ups provided education for school and college students so that they won't miss the subjects.
Indicating that the lifespan of the start-ups is short-lived, the firms are on a spree of reducing the workforce as part of the restructuring process. The start-ups irrespective of the fields mainly the online education sector are seeing a massive dip in the workforce. As of now, around 12,000 employees lost their lives.
The start-ups are facing a big issue in getting funds. With no funds, the firms are keeping the workforce as less as possible. Only employees who hold the key posts are retained. In some cases, key employees were also asked to look for other alternatives.
Well, the tough time is not over yet and the worst is yet to come. This year, more than five times the workforce that was removed will be removed by the start-ups. A recent study says that more than 60,000 employees will be sacked by start-ups.
Running the firms without funds had turned out as a big concern and struggle for the start-ups. To beat this, the entrepreneurs are implementing the cost management model and are removing the workforce in a phased manner. However, the workforce that lost jobs is very less when compared to drop in the jobs during the Covid pandemic.
Looking at the global level, the companies in the United States are also removing employees. Not just the small companies, but big companies like Elon Musk's Tesla, game developer Niantic, Netflix, Cap Gemini, and others also laid off their employees. This shows the problematic situation faced by the companies. The techies are getting removed in big numbers.
