The Indian startup ecosystem has witnessed a surge in layoffs as several companies struggle to secure funding and achieve profitability. Multiple startups across sectors have resorted to downsizing their teams. Employees affected by the layoffs are facing a tough job market, with limited opportunities available. Many companies are providing severance benefits and support for affected workers.
Flipkart has cut 15% of its workforce, citing overstaffing following the festive season sales spike. The layoffs are part of a broader restructuring effort intended to streamline operations and maintain profitability in a competitive market.
A leading pharmaceutical firm has announced layoffs in its Indian operations as it looks to cut costs and improve profitability. The decision comes amid increasing market pressures and competition. The layoffs will affect employees across different roles, with the company pledging to offer severance pay and reemployment assistance. This move reflects broader challenges faced by the pharmaceutical industry.
The tech sector witnessed a significant increase in job losses in August, with over 27,000 employees affected. Major tech firms, including Intel, IBM, and Cisco, along with more than 40 smaller startups, announced substantial layoffs. So far this year, the industry has seen over 136,000 tech professionals laid off across 422 companies. Intel cuts 15,000 jobs On Thursday, Intel announced in a memo to its employees that it...
In response to declining demand, a major manufacturing company has decided to reduce its workforce in India. The layoffs are part of a broader strategy to align production with market conditions. Hundreds of employees are set to lose their jobs, raising concerns about the economic impact on local communities. The company is providing exit packages and support to help affected employees transition.
A prominent IT services company has announced a series of layoffs affecting its workforce in India. The move is part of a larger restructuring effort aimed at enhancing operational efficiencies. Impacted employees have been offered severance packages and access to job search resources. The company is focusing on streamlining processes and realigning its business strategy.
Infosys recently revealed plans to lay off approximately 10,000 employees. The decision comes amidst global economic headwinds and increased automation of services. The company aims to reduce operational costs and focus on upskilling remaining employees to align with their digital transformation strategy.
The tech industry continues to face massive layoffs in 2024, with over 1,30,000 IT employees losing their jobs so far. Over 1,30,000 IT employees have lost their jobs in 2024 due to ongoing tech layoffs Cisco, Intel, Microsoft, among the top companies who announced workforce reductions Economic challenges are driving these job cuts The tech industry, which was shaken by mass layoffs at the start of 2023, has continued to experience rounds of...
Cognizant's India operations have laid off 6,000 employees as the company pivots towards more digital and software services. This move is part of Cognizant's broader strategy to focus on high-margin sectors and reduce dependency on traditional IT services.
An e-commerce giant has decided to cut down its workforce in India, citing market volatility and financial constraints. The layoffs are expected to affect several hundred employees. The company is reallocating resources to focus on core business areas as part of its strategy to navigate the challenging economic environment. The affected employees will receive assistance in the form of severance pay and outplacement services.
The automotive sector in India is experiencing significant layoffs as companies grapple with a market downturn and supply chain issues. Several major manufacturers have announced workforce reductions. Employees affected by these layoffs are being offered severance packages and career support services. The industry is facing multiple challenges, including declining sales and increased operational costs.