As layoffs continue to rock the tech world, Indian companies are no exception to the sad trend that has left many in the tech and startup economy jobless. Data from website Layoffs.fyi shows the companies which have let the most people go in the past 17 months when tech layoffs in the aftermath of the pandemic intensified around the world.
In India, Reliance's JioMart was the latest in a string of devastating layoffs. The company let 1,000 employees go this week. The online wholesaler will see more layoffs in the thousands, according to the Economic Times, due to its acquisition of Metro Cash and Carry India. Already, the layoffs at JioMart are the fifth-largest the country has seen since 2022.
Virtual learning providers - major pandemic winners - have been the hardest hit now that global markets are transitioning away from the pandemic economy. Byju's let a total of 4,000 people go in February and October 2022, followed by 1,500 laid off by competitor Unacademy in July. Rideshare provider Ola is in rank 3 with 1,400 made unemployed between July and January. Another education provider, Vedantu in rank four, saw an especially high number of layoff rounds - four between May and December 2022 - resulting in the loss of more than 1,100 jobs.
As Mint reports, two more learning providers, Lido Learning and SuperLearn, even let go of their entire staff. Two more Indian household names, Swiggy food delivery and OYO hotels, were also among the most heavily affected by layoffs, letting around 600 people go each.
